Blunt will maintain a presence at the company by transitioning to a role as a board director and chief executive of the Peak Altitude Equity subsidiary. His departure follows a tenure that began in 2019, drawing on a career spanning three decades in investment management and insurance, including high-level positions at Blackstone Insurance Solutions and New York Life.

Murphy, who has served as CFO since April 2025 and added the title of president last August, will now oversee the broader executive agenda. To fill the vacancy left by Murphy, F&G has recruited Michael Bailey, formerly the retail chief financial officer at Corebridge Financial, to step in as executive vice president and CFO starting August 3. Until that appointment takes effect, chief accounting officer Mark Wiltse will manage the firm's financial operations in the interim.