MetLife CEO lambasts regulators over Sifi designations

Systemically important label is "our biggest concern", says Kandarian

metlifeny
MetLife building, New York

The chief executive of MetLife has denounced the decision to designate the insurance giant as a non-bank systemically important financial institution (Sifi), claiming it places the firm at a competitive disadvantage.

MetLife's chief financial officer also warned some of the enhanced requirements for non-bank Sifis could intensify a future financial crisis.

"At Metlife our biggest concern is being designated under Dodd-Frank as a non-bank Sifi," said Steven Kandarian, chief executive of MetLife.