Lockheed Martin Gets a New CIO | Chief Investment Officer

Paul Colonna

Paul Colonna will succeed Chris Li as president and chief investment officer of the Lockheed Martin Investment Management Co., taking the reins from the former head on January 7.

Chris Li, the corporate plan’s previous leader, retired in June after 11 years at the helm.

Colonna will oversee the aerospace giant’s $70 billion in assets under management, controlling each facet of Lockheed’s investment strategy. He will also control the portfolio management, manager selection, risk management, and due diligence for these trust assets, to help the organization and the defense company that parents it meet their investing targets.

“Paul is an experienced investment officer and will provide the vision, leadership, and management expertise for Lockheed Martin’s investments,” said Bruce Tanner, Lockheed Martin’s executive vice president and chief financial officer.

For more stories like this, sign up for the CIO Alert newsletter. 

Colonna previously was the executive vice president and CIO of fundamental equities for State Street Global Advisors, where he managed $30 billion in assets and an 80-member team. He had also served as the president and CIO for public investments at GE Asset Management, managing more than $100 billion in public fixed income and equity assets.

“I am very honored to be joining the team at Lockheed Martin and look forward to continuing the strong culture of providing superior financial outcomes for the company and the plan beneficiaries,” said Colonna.

Colonna could not be reached for direct comment.
Lockheed Martin declined comment.

Tags: Chris Li, Lockheed Martin, Paul Colonna, Pension

The $107.1 billion Australia Future Fund has gotten a shakeup, as three of its top private equity professionals have exited the nation’s sovereign wealth fund to start their own firm.

Veterans Steve Byrom, head of private equity; David Simons, director; and Jasmina Osmanovic, investment director, left the fund recently. They will be launching their private equity business in the near future, although there are few details about the new venture.

According to Investor Strategy News, the three are looking to model their business after another private firm, Hamilton Lane of ROC Partners.

Byrom had been with the fund since 2007. Simons and Osmanovic had worked there since 2008 and 2013, respectively.

Never miss a story — sign up for CIO newsletters to stay up-to-date on the latest institutional investment industry news. 

The Future Fund will begin to search for Byrom’s replacement next year. In the meantime, Stewart Tillyard, the fund’s head of unlisted property, will take the helm as acting head of private equity.

The sovereign wealth fund, which handles the assets of five of Australia’s public asset funds (Future Fund, DisabilityCare Australia Fund, the Medical Research Future Fund, and two Nation-building Funds), had a 14% allocation to private equity as of September 30.

““We thank Steve, Dave and Jasmina for their important contributions and wish them all the very best,” a Future Fund spokesperson told CIO via email. “Stewart Tillyard, will take on responsibility for the private equity team and portfolio on an acting basis as we commence a recruitment process for a new person to lead the team. In the meantime, it is business as usual for the program which remains an important part of our diversified portfolio.”

Raphael Arndt, the Australia Future Fund’s chief investment officer, could not be reached for comment.

Tags: Australia Future Fund, Private Equity, Sovereign Wealth Fund, Steve Byrom