MONEY MANAGEMENT

Voya hires head of asset allocation for multiasset strategies and solutions team

Barbara M. Reinhard was named head of asset allocation for Voya Investment Management's multiasset strategies and solutions team, spokesman Kristopher Kagel said.

She replaces Derek Sasveld, who left the company to join Nuveen Investments in August as managing director, head of multiasset-class solutions.

Ms. Reinhard will be responsible for the day-to-day management and the decision-making process for asset allocation across a range of diversified portfolios for the multiasset team.

The multiasset strategies and solutions team oversees $27 billion in assets and has approximately 25 investment professionals.

Ms. Reinhard is based in New York and reports to Paul Zemsky, chief investment officer of the multiassets unit.

She was previously managing director and chief investment officer in Credit Suisse's private banking division. Credit Suisse is winding down its private banking operations in the U.S., so she will not be replaced, said company spokeswoman Nicole Sharp.