The former head of asset management for Fidelity Investments has joined the board of directors for insurer Unim Group. According to a media reports, Ronald O’Hanley will serve on committees overseeing finance, risk and human capital, according to a statement the insurer based in Chattanooga, Tennessee.
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While at Fidelity, the 58 year old OHanley managed an estimated $1.9 trillion in assets until he resigned in 2014. OHanley was hired by Fidelity following the credit crisis of 2008 and before that he was in charge of money management at Bank of New York Mellon Corp.
According to Blommberg, “Life insurers have been bolstering their boards with veterans of asset-management companies and Wall Street banks as they cope with low interest rates. MetLife Inc. said Tuesday that former Citigroup Inc. investment bank chairman Edward Ned Kelly joined as a director, while Aflac Inc. this month added Thomas Kenny, previously a fund manager at Goldman Sachs Group Inc.”
OHanley brings significant expertise in financial services, and I am certain his perspective and experience will be a tremendous asset, said William J. Ryan, chairman of Unum, said in a press statement.
Unums investment portfolio was valued at $51.8 billion. Most of the assets were in bonds, led by corporate debt, reports Bloomberg.
