- Antoncic will work with central banks, pensions, insurers
- She previously managed $140 billion in assets at World Bank
Principal Global Investors, the asset manager that oversees about $346 billion, hired Madelyn Antoncic as executive director of institutional investment solutions.
Antoncic previously worked as treasurer for the World Bank where she oversaw $140 billion in assets, including holdings for sovereign wealth funds, central banks and pension funds, according to a statement Monday from the unit of Principal Financial Group Inc. She will seek to build relationships with such institutions for PGI in her new role, according to the statement. Antoncic will be based in New York and report to PGI Chief Executive Officer Jim McCaughan.
“Her experience will be instrumental in helping us deliver the breadth of solutions our multi-boutique platform offers to institutional clients around the world,” McCaughan said in the statement.
Antoncic joined the World Bank in 2011 after working at Lehman Brothers Holdings Inc., including a stint as chief risk officer, where she urged the bank to guard against investment losses before it collapsed. She began her career at the Federal Reserve Bank of New York, before working for Goldman Sachs Group Inc. and Barclays Plc. Antoncic has a Ph.D. in economics from New York University’s Stern School of Business.
McCaughan has been seeking to bolster operations at the investment-management unit, purchasing stakes in boutiques such as Liongate Capital Management LLP and Columbus Circle Investors. Des Moines, Iowa-based Principal Financial’s new CEO Daniel Houston said in September that the company is “actively looking” for more investment operations.
In her new job, Antoncic will also work with insurance companies and endowments. The World Bank in July named Nigeria’s Arunma Oteh as vice president and treasurer.
“We are grateful for the time Madelyn spent at the World Bank and wish her all the best,” a representative of the organization said in an e-mailed statement.