General Motors Asset Management is consolidating the investment management of its equity and fixed-income programs into two global groups.
GMAM will create a global equities group comprising what had been two separate asset classes, the North American equity group, with $25 billion in assets under management, and the international equity group, with $18 billion in assets under management. The group will be headed by David Holstein, previously managing director of international investments.
The firm is creating a similar global fixed-income group to run both the domestic fixed-income program, with $20 billion under management, and the international fixed-income program, with $2 billion in assets under management. This group will be headed by Tom Kao, previously managing director of North American fixed income.
The restructuring was precipitated by the departure of Peggy Eisen, managing director of the North American equities group. Ms. Eisen, whose last day at GM was Feb. 16, is joining DeGuardiola Advisers, an investment banking boutique that specializes in mergers and acquisitions of investment management firms. As a managing director there, she will be assisting Roberto DeGuardiola, head of the firm, on investment banking transactions.