Asset Management, Consulting Firms Make Leadership Changes for 2024
Voya IM names new CEO; Goldman adds head of retirement role for asset, wealth group.
Corporate Moves
3M to Freeze Nonunion Pension Plans in 2028
The company is focused on ‘providing employees with more flexibility and control’ by moving to the 401(k) structure.
AP3, Wafra Introduce Private Equity Investment Platform
Covalent will initially be capitalized with $1.05 billion to focus on investments in North America and Europe.
T. Rowe Price Promotes Eric Veiel to Head of Global Investments
The current head of global equity will take over the role for CEO Rob Sharps at the start of the new year.
Wilshire Completes Acquisition of Lyxor Asset Management
The U.S. arm of the French asset management firm will spur Wilshire’s growth in ‘key area’ of alternatives.
Mercer to Acquire Vanguard OCIO Business
Vanguard Institutional Advisory Services, its employees and clients will become part of Mercer next year.
MainePERS Begins Search for Deputy CIO
The $18.6 billion system hired a search firm to fill the role left by Zack McGuire’s June departure.
Marco Pirondini Appointed CIO at Amundi US
The appointment to this role and as executive vice president is effective January 1.
Pernille Jessen Appointed as CIO of Denmark’s AP Pension Fund
The investment chief was hired from AkademikerPension, where she was co-CIO.
Brookfield Asset Management Unit Closes Deal to Sell 49% of Westinghouse to Cameco
Brookfield Business Partners bought the nuclear tech company out of bankruptcy in 2018 for $4.6 billion, while this deal values the company at $8.2 billion.
BlackRock to Develop World’s Largest Direct Air Capture Plant With Occidental
The asset manager is investing $550 million in a joint venture with the oil and gas giant’s 1PointFive subsidiary.
Northern Trust Developing Platform to Allow Institutional Buyers to Digitally Access Carbon Credits
Use of smart contracts expected to bring rigor to voluntary carbon credit market.
iM Global Partner Promotes Jack Chee to CIO of US Asset Management
Chee was previously head of fixed-income strategies.
Tomas Arlia Joins Fintech Startup Arta Finance as CIO
The platform aims to provide alternative investments for retail investors.
BNP Paribas Hires Scott Carter as Global Head of Investor Coverage
Carter previously worked at AQR Capital Management and Deutsche Bank.