Aegon NV promoted Kirk Buese to chief investment officer of the U.S. asset-management operation that oversees $135 billion.
Buese, 55, will lead teams that handle fixed-income investments, derivatives and hedging, the asset-management arm of the Hague-based insurer said Thursday in a statement. Aegon created the CIO post in the U.S. to match the structure in other regions, said Lois Evans, a company spokeswoman.
Aegon is among global insurers seeking to bolster asset-management operations to generate fee income and diversify beyond life contracts as regulators and credit-rating firms scrutinize capital-intensive products. The U.S. unit oversees funds for clients including pensions, financial institutions, foundations and endowments. Buese previously was global head of illiquid investments for Aegon Asset Management.
“Kirk has been influential in broadening our investment capabilities,” Sarah Russell, chief executive officer of Aegon Asset Management, said in the statement. “His leadership, knowledge and understanding of our clients and our business make him ideally suited to further develop our capabilities.”
The U.S. operation has 65 investment professionals and focuses on holdings such as investment-grade debt, structured securities and leveraged finance, according to its website. Buese will be based in Baltimore, Evans said.