Todd Porter and Tim Galbraith will join Transamerica Asset Management in mid-April as chief investment officer-asset allocation and CIO-alternatives investments, respectively, confirmed John K. Carter, president and CEO.
Both positions are new. The hires are being made in conjunction with Transamerica bringing in-house the management of six strategies that had been subadvised by Morningstar Associates.
Mr. Porter will oversee five Transamerica asset allocation options for variable annuity clients with combined assets of roughly $12 billion as of Jan. 31, Mr. Carter said.
Mr. Galbraith will oversee the $450 million Transamerica Multi-Manager Alternative Strategies Portfolio, which is offered to retail clients and distributed through financial institutions, wirehouses, banks and independent financial planner channels, Mr. Carter said in an e-mail.
Mr. Porter is co-CIO at Fund Architects; he will leave the company at the end of March; his replacement will be named shortly, said co-CIO Burt Snover.
Mr. Galbraith was director of alternative investment strategies at Morningstar; Alexa Auerbach, a Morningstar spokeswoman, said no decision has been made on whether to replace him.