Friday, July 19, 2013

At General Motors Asset Management Divya Suryadevara becomes CIO

Dhivya Suryadevara, who was instrumental in GM’s $26 billion pension risk transfer to Prudential, has taken over the top investment position.

(July 16, 2013) - General Motors Asset Management has a new chief investment officer.
Dhivya Suryadevara took over the position as of July 15, according to GM.    
Suryadevara was 33 years old as of April 30, making her one of the youngest CIOs of one of the largest pension plans in the United States. GM Asset Management runs $83.6 billion according to Russell Investments' $20 Billion Club Research, with only IBM managing more global corporate defined benefit assets. 
She previously served as fund's managing director of investment strategy and fixed income, and was instrumental in GM's $26 billion risk transfer to Prudential. Between the signing of the annuity purchase and the deal's close, she transformed the GM assets into a fixed-income heavy, insurance-like portfolio in preparation for one of the largest transitions in history.
"I was in charge of the asset side of the deal-organizing, in a five-month period, the assets to hand off to Prudential," the Forty Under Forty member told in April. "The harder part was managing the market and interest-rate exposure we had from the time we inked the deal until the time it was closed. But it was a team effort. It was like an orchestra that had to work perfectly-so it was really a huge, complex group effort."
"We're lucky it went without any major hiccups," Suryadevara said. "You can't write everything into the contract on a deal like this, so we're lucky we had a phenomenal and flexible partner on the other side."
Dan Ammann, GM's executive vice president and chief financial officer, noted her strong background at the time of the announcement.
"Dhivya's experience and strong track record in leading our investment strategy and asset allocation for our pension plans will serve her well in this important role for the company," he said. "I'm confident that she will build on the great work the team has accomplished over the past few years."
GM Asset Management's longtime CEO, President, and CIO Walter Borst left the firm earlier this summer for the CFO role at truck and engine maker Navistar International.
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