MetLife Hires SocGen's Funk in London to Build Asset Managementby
Funk to work as director in MetLife Investment Management
He will be based in London, work in institutional client group
MetLife Inc., the largest U.S. life insurer, hired Jason Funk to expand its asset management business for institutional clients in Europe, Africa and the Middle East.
Funk previously worked for Societe Generale SA’s Lyxor asset management unit. From his new post in London he will oversee new business development across the region as a director in MetLife Investment Management’s institutional client group, the New York-based company said in a statement Tuesday. The unit serves large investors, including private pension plans and sovereign wealth funds.
MetLife and Principal Financial Group Inc. are among insurers bolstering asset-management arms, operations that can generate fee income with less capital burden than other businesses. The MetLife institutional client group hired BlackRock Inc.’s Dhaval Parikh as a director in August. Two months later, one of Principal’s asset-management units named former World Bank Treasurer Madelyn Antoncic as executive director of institutional investment solutions.
Funk “has more than 12 years of pan-European sales experience, a substantial track record raising capital for diverse clients and extensive relationship-management expertise,” Joseph Pollaro, chief operating officer of MetLife Investment Management, said in the statement.
Funk held sales and product-development roles at Lyxor and previously worked for Strathmore Capital and Aurum Funds. He is a lawyer by training and is an American national who lives in London with his family, according to the statement. A Lyxor spokesman didn’t respond to a message seeking comment.