Raman Srivastava was named CEO designate of Insight Investment, succeeding long-serving CEO Abdallah Nauphal when he retires later this year.
Nauphal is retiring after 17 years at the helm of the money management firm, which had £665 billion ($889.2 billion) in assets under management as of Sept. 30. He joined Insight in 2003 as chief investment officer, adding the CEO role in 2007. He relinquished his CIO responsibilities in 2016.
Srivastava reports to Jose Minaya, global head of parent company BNY’s investments and wealth division. Insight will continue to operate as an independently managed affiliate of BNY.
Srivastava is based in London and will work with Nauphal on a smooth transition, a spokesperson said. The firm anticipates that Srivastava will be appointed as CEO in the spring.
Insight is known for its fixed-income and liability-driven investment expertise, as well as running multiasset and absolute return strategies for institutional investors including pension funds and insurance companies.
“I’d like to thank Abdallah for his many achievements as CEO, providing the strategic direction which has shaped Insight to become the world-class investment manager that it is today,” Minaya said in a statement. “I’d also like to congratulate Raman on his appointment to lead Insight in the next exciting phase of its growth strategy.”
Nauphal added: “It is still hard to imagine leaving a business that has been such a large part of my life for so long and I am exceptionally proud of what we have achieved over the last 20 years. Having been heavily involved in the process to select a suitable successor over the last year, I know that the business will be in safe hands under Raman’s leadership, and I look forward to watching Insight’s continued success for years to come.”
Srivastava was executive vice president and global CIO at Great-West Lifeco, a Canadian-headquartered financial services firm with operations across the globe. It operates in Canada, the U.S. and Europe under brands Canada Life, Empower, and Irish Life. Details on any replacement could not immediately be learned.
Before Great-West, Srivastava was co-deputy CIO for fixed income at Standish Mellon Asset Management — now part of a BNY affiliate.
BNY recently celebrated its 240th anniversary, ringing the opening markets bell at stock exchanges across the globe to mark the occasion. The firm has more than $50 trillion in assets under custody and administration, and more than $2.1 trillion in assets under management across seven affiliates. Besides Insight, the affiliates are ARX Investimentos, Dreyfus, Newton Investment Management, Mellon, Siguler Guff, and Walter Scott.
BNY has undergone a number of developments over recent years. Minaya became global head of investments and wealth in September, succeeding Hanneke Smits who retired. Previously, Minaya was CEO at Nuveen. And in 2021, the firm shuffled capabilities across its investment affiliates.
Nauphal is a high-profile and widely known executive in the investment management industry. In December 2022, Nauphal gave evidence to the Work and Pensions Committee to help it in its investigation into the September 2022 LDI-related liquidity crunch. His previous roles include serving as fixed-income CIO at Rothschild Asset Management, which was acquired by Insight in 2003, and as head of fixed income at Schroders.
