Published July 21, 2016 8:07am EDT | Updated July 21, 2016 10:05am EDT

MetLife Rebranding U.S. Retail Business After Planned Spinoff

MetLife, Inc. said Thursday that it is changing the name of its U.S. retail business to Brighthouse Financial. The rebranding will come after MetLife spins the business off from the company, which it had announced in January. Eric Steigerwalt, the executive vice president at MetLife, will be the head of Brighthouse Financial. Shares of MetLife have fallen 10.5% year to date, compared to the S&P 500's gain of 6%.