Voya Promotes Hurtsellers to Oversee $203 Billion Asset ManagerBy
She succeeds Jeffrey Becker, who is leaving for another firm
Hurtseller’s was the unit’s investment chief of fixed income
Voya Financial Inc. said it promoted Christine Hurtsellers to lead the insurer’s $203 billion investment manager, succeeding Jeffrey Becker, who’s leaving the firm.
Hurtsellers, previously investment chief for the fixed-income business at Voya Investment Management, will become chief executive officer of that unit and report to Alain Karaoglan, Voya’s chief operating officer and CEO of retirement and investment solutions, the New York-based insurer said Wednesday in a statement. Becker, who has led the unit since 2009, is leaving for another company, according to the statement.
Insurance companies are increasingly betting on asset management, which produces fee income and can be less capital-intensive. Voya CEO Rodney Martin has bolstered the business, hiring John Simone from JPMorgan Chase & Co. in 2014 to help build an operation managing investments for other insurers and adding Pacific Investment Management Co.’s Kevin Kuhner in November for institutional sales on the West Coast.
“Christine possesses the unique combination of being an inspirational leader, an exceptional money manager and one of the brightest people in our industry,” Karaoglan said in the statement. “As chief investment officer of fixed income, she has overseen a dramatic turnaround in the performance of our fixed-income assets, and this has been key to our recent business growth.”
Matt Toms, who was previously head of public fixed income at the asset manager, will become chief investment officer of fixed income, succeeding Hurtsellers, Voya said.