David Holstein was named managing director, international investments, at General Motors Investment Management Corp., New York, effective Jan. 1. He replaces Hugh Lynch, who retires in April. Mr. Holstein is currently a European equity portfolio manager for GMIMCo, which manages the $78 billion defined benefit plan for General Motors. GMIMCo has a 20% strategic allocation to international equities and 3% to foreign bonds, Mr. Lynch said. It also has a 1% exposure to emerging markets debt through its domestic high-yield portfolio, he added. Mr. Lynchs departure is not likely to lead to wholesale changes in GMIMCos international investing program, sources said. But Allen Reed, president and CEO of GMIMCo, added that the pension fund giant is always "fine-tuning the system.