Insight Investment CEO Abdallah Nauphal to Retire, Raman Srivastava Named as Successor

Raman Srivastava

Abdallah Nauphal

Abdallah Nauphal, CEO of Insight Investment Management Ltd., will retire from the firm during the first half of the year, the asset manager announced on Monday. The 20-year veteran of the firm will be succeeded by Raman Srivastava, who had been executive vice president and global CIO at Great-West Lifeco Inc. since 2017.

Srivastava will report to Jose Minaya, global head of BNY Investments and Wealth, the parent firm of Insight Investment.

“I am thrilled to join Insight, a world-class investment firm, and I look forward to working with Abdallah and the executive team, as well as engaging with my new colleagues, clients and their advisers,” Srivastava said in a statement. “Leading such a successful organization into the next exciting phase of its ambitious growth strategy is both an honor and an incredible opportunity.”

According to the announcement, Abdallah is the longest-serving CEO of a large European investment manager. During his tenure, the firm’s assets under management grew to $892 billion from $140 billion.

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“It is still hard to imagine leaving a business that has been such a large part of my life for so long and I am exceptionally proud of what we have achieved over the last twenty years,” Abdallah said in a statement. “Having been heavily involved in the process to select a suitable successor over the last year, I know that the business will be in safe hands under Raman’s leadership, and I look forward to watching Insight’s continued success for years to come”

Prior to joining Great-West Lifeco, Srivastava had been deputy CIO and managing director of global fixed income at Standish Mellon Asset Management Co. and a managing director at Putnam Investments. Srivastava earned a degree from the University of Waterloo in Ontario and a master’s degree in finance from the Tepper School of Business at Carnegie Mellon University.

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Tags: Abdallah Nauphal, CEOs, Insight Investment, Raman Srivastava

The investment committee of the California State Teachers’ Retirement System will review a request for proposals issuance at its January 8 board meeting, according to the pension fund’s investment committee meeting material. The contract of Meketa Investment Group Inc., the sole general investment consultant for CalSTRS since 2018, is set to expire on June 30.

If the consent action is approved, CalSTRS will issue a request for proposals for an investment consultant sometime this winter to start a new contract on July 1. Select finalists would be presented before the investment committee in March. The new contract will cover three years, five years or three years with two options of one year each, according to the meeting material.

“This item is placed on Consent if the Committee desires to move forward with the search and selection of the attached general investment consultant scope of work or can be pulled from Consent and discussed if the Committee desires a change [to the scope of work],” according to the board meeting agenda.

The draft general consultant RFP includes a list of services expected to be provided by the consultant, such as manager search and selection, performance analysis, asset liability management studies and other fiduciary work.

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Meketa was selected as co-consultant for CalSTRS in 2013 for general investment consulting services, with Pension Consulting Alliance LLC as the lead consultant. In 2018, CalSTRS made Meketa the sole consultant after issuing a new RFP, and in 2019, Meketa and PCA merged. According to a spokesperson, Meketa is eligible to apply to a new RFP.

In separate board meeting material, CalSTRS noted that assets of the fund grew to $352.5 billion as of November 30, 2024. The fund allocates 41.2% of its portfolio to public equity, 15.3% to private equity, 13.1% to real estate, 12% to fixed income, 7.9% to risk mitigation strategies, 6.5% to inflation sensitive assets, 2.1% to cash, 1.7% to collaborative strategies and 0.1% to strategic overlay.

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Tags: California Teachers’ Retirement System, CalSTRS, investment consultants, Meketa, RFP