Karyn Williams was named chief investment officer at Farmers Group Inc., Los Angeles, overseeing the firm's insurance assets and its pension fund investments, spokeswoman Carrie Bonney said.
Ms. Williams, now head of insurance investments, will begin her new position Sept. 1 and replace Peter Teuscher, who is leaving to become head of alternative investments at Zurich Financial Services Group.
Ms. Bonney said a search is underway for a replacement for Ms. Williams in her current position.
Officials at Zurich could not be reached immediately for further information.
As of Nov. 30, 2013, the Farmers Group Inc. Employees' Pension Plan had $2.9 billion in assets, according to the company's most recent available Form 5500 filing.