MutualFundWire.com: Hartford's Fund Arm Picks a New President

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Monday, October 6, 2008

Hartford's Fund Arm Picks a New President

Hartford Investment Management has a new president. Greg McGreevey will be taking on the title along with those of executive vice president and chief investment officer for The Hartford. He takes over from Dave Znamierowski, who is leaving the company.

"Given the recent unprecedented turmoil in the financial markets and its effect on the company's investment portfolio, we agreed that it would be best to bring a fresh perspective to our investment operations," said Hartford chairman and CEO Ramani Ayer in a news release on Monday.

McGreevey joined The Hartford in August as chief investment officer (see The MFWire September 1, 2008). He was formerly vice chairman and executive vice president at ING Investment Management.

Also on Monday, The Hartford announced a $2.5 billion investment from Allianz SE, which owns Pimco and Allianz Global Investors. The Hartford also said it is expecting a third quarter net loss in the range of $8.50 to $8.80 per share.

Excerpt from Company Press Release

Chief Investment Officer Appointment

Effective immediately, Greg McGreevey, who joined the company in August, will assume the position of executive vice president and chief investment officer for The Hartford and president of Hartford Investment Management Company. He succeeds Dave Znamierowski who is leaving the company. Ayer said, "Greg is a seasoned investment professional with a track record of success. He and his team are immersed in our portfolio, evaluating our investments, and setting a course to navigate in this very volatile marketplace."

"Dave served The Hartford with dedication for the past 12 years. Given the recent unprecedented turmoil in the financial markets and its effect on the company's investment portfolio, we agreed that it would be best to bring a fresh perspective to our investment operations," added The Hartford's chairman and chief executive officer Ramani Ayer.