BP investment chief Greg Williamson has stepped down to take over the American Red Cross’ $5 billion fund, CIO has learned.
Williamson’s resignation ends a long and noted career managing the oil giant’s retirement assets.
“I am very excited for this next chapter of my career,” Williamson said when reached by CIO. “I strongly support the mission of the American Red Cross, and look forward to making a positive contribution to the organization as its next chief investment officer.”
As CIO of the Washington, DC-based American Red Cross, he will be managing roughly $5 billion in foundation and pension assets.
Current CIO Christina Samson has spent 19 years at the international aid organization. She earned a salary of $348,834 in addition to $62,733 of other compensation in 2013, according to the nonprofit’s most recent tax filings.
In December, BP won the CIO Industry Innovation Award for corporate pension plans with $10 billion or more under management. Williamson’s novel “liability-driven investing-plus” approach, in addition to many other industry contributions, earned BP the prize after nominations in previous years.
Williamson ranked 27th on the 2014 Power 100 list of the world’s most influential asset owners.
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