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ASSET OWNERS

BP America CIO leaves for post with American Red Cross

Gregory T. Williamson
Gregory T. Williamson

Gregory T. Williamson, Chicago-based chief investment officer of BP America Inc. and director-trust investments, the Americas, BP PLC, was named CIO of the American Red Cross, Falls Church, Va., the American Red Cross and Mr. Mr. Williamson confirmed Wednesday.

Mr. Williamson will start May 1, replacing Christina Samson, who is retiring after 16 years with the organization, the American Red Cross said in a statement.

Mark Thompson, deputy CIO of BP America, was named interim CIO and director-trust investments, Americas.

Mr. Williamson was recruited for the position by David Barrett Partners, which specializes in investment management executive searches.

At BP, Mr. Williamson oversaw $18 billion in assets, including $8 billion each in defined benefit and 401(k) assets. The other assets include voluntary employee benefit association and foundation funds.

American Red Cross had $6.13 billion in investment assets composed of a $2.14 billion defined benefit plan, $982 million in endowment funds, and $2.075 billion in other investible assets on its balance sheets, as well as an $816 million defined contribution plan, according to its latest annual statement as of June 30. The DC assets are as of Dec. 31, 2013, according to its most recent Form 5500 filing.

Mr. Williamson plans to continue at BP until the he starts at the American Red Cross.

“I am very excited for this next chapter of my career,” Mr. Williamson said. “I strongly support the mission of the American Red Cross, and look forward to making a positive contribution to the organization as its next chief investment officer.”

Mr. Williamson, who joined Amoco Corp., a BP predecessor company, in 1991, was named CIO and director-trust investments in 2008.

“Greg brings exceptional experience in corporate asset management from his most recent position at BP America that will serve him well at the Red Cross” the American Red Cross statement said.