San Diego County Hires CIO

Stephen Sexauer, former CIO of Allianz’s US multi-asset team, will lead the $10.6 billion portfolio as the fund moves away from OCIO Salient Partners.

Stephen SexauerStephen Sexauer, SDCERAThe San Diego County Employees Retirement Association (SDCERA) has hired Stephen Sexauer as its investment chief as the fund continues to transition from an outsourced-CIO (OCIO).

Sexauer, who previously served as CIO of US multi-asset team at Allianz Global Investors, will begin his new post on May 29.

According to the $10.6 billion public pension fund, Sexauer will be tasked with overseeing SDCERA’s investment strategy for public and private investments, as well as managing its investment team and consultants.

He will also assist the board with reviewing and formulating the fund’s investment policies, strategy, and asset allocation. Furthermore, he will “coordinate the transition of responsibilities” from OCIO Salient Partners, the fund said.

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“Steve’s keen grasp of global financial markets and his direct experience managing large multi-asset portfolios stood out during the interview process,” said Skip Murphy, chair of the board of retirement. “SDCERA’s leadership team is taking shape, and the board is eager to move forward on reviewing SDCERA’s asset allocation and investment policies. 

Prior to his tenure at Allianz managing $7 billion in multi-asset portfolios, Sexauer worked as a portfolio manager at Morgan Stanley. He also served as vice president at Salomon Brothers in charge of sales and trading training program and quantitative sales.

Sexauer holds an MBA from the University of Chicago and a bachelor’s degree in economics from the University of Illinois at Chicago.

Salient added it has been an honor to serve SDCERA as an OCIO for the last five and a half years, “during which time the pension generated a net annualized return of 9.42% and gains of $4.27 billion for plan members.”

Related Content: San Diego County Appoints Interim CEO as CIO Search Pushes On; San Diego’s Bumpy Transition from OCIO; Amid Internal Clashes, San Diego Hunts for CIO

New York Life CIO Appointed President

John Kim’s seven-year tenure in charge of investments has landed him the top job at New York Life. 

The CIO of the US’ biggest life insurer has been appointed president of the company in a senior management reshuffle.

New York Life’s Vice Chairman and CIO John Kim has been elected president with immediate effect, the company said yesterday. He replaces Ted Mathas, chairman and CEO, who was elected president in 2007.

Kim retains his CIO role and duties within New York Life’s investment division, while taking on responsibility for the Insurance & Agency Group. Kim joined in 2008 to lead the insurer’s investment capability and assets under management have doubled under his leadership, Mathas said.

“With his broad and deep experience and judgment, the board and I know John will continue making high-impact contributions overseeing all of our business operations in his new role as president of the company,” Mathas added.

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Prior to joining New York Life, Kim was president of Prudential Retirement. He was also president of CIGNA Retirement and Investment Services, and held CEO and CIO positions within the investment and insurance divisions of Aetna Life & Casualty.

As part of the reshuffle, Chris Blunt has been appointed president of the company’s investment division. He joined the insurer in 2004 as head of retail investments before taking charge of the Insurance & Agency Group. Agency operations are currently led by Mark Pfaff, who plans to retire at the end of this year.

Related Content: AXA Presses Into US Market with New Group Chief

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