December 8, 2009
NEW YORK, December 8, 2009 – Goldman Sachs Asset Management (GSAM) announced today that John Melvin has joined GSAM as a Managing Director and Global Head of Insurance Fixed Income portfolio management. He will oversee the portfolio management investment process and implementation for GSAM’s insurance fixed income clients, manage a global staff of insurance fixed income professionals, and work with the insurance sales and strategy teams to develop customized investment solutions.
Melvin will report directly to Eric Kirsch, Managing Director and Global Head of GSAM’s Insurance Asset Management business. He will also work closely with GSAM’s U.S. and global fixed income teams.
“John’s extensive fixed income and insurance experience will be a terrific addition to our work with global insurers,” said Kirsch. “Insurance asset management is a core focus for GSAM, and we are pleased to welcome someone with John’s expertise to our team of dedicated insurance asset management specialists.”
Melvin brings more than 18 years of fixed income experience to GSAM. During the last seven years, he served as a Managing Director for Deutsche Insurance Asset Management, responsible for insurance fixed income for the Americas. In addition, he was Co-Head of the U.S. investment platform with oversight for credit research and trading. He also co-chaired the U.S. asset allocation committee, where he set investment policy for insurance accounts.
Prior to Deutsche, Melvin was a Senior Vice President for Lazard Asset Management, where he was a portfolio manager for core and core-plus portfolios and a sector manager following the ABS, CMBS and MBS markets. Before Lazard, Melvin worked at UBS Asset Management as a specialist in the mortgage sector.
Melvin earned his bachelor’s degree from Lehigh University and his MBA from the Stern School of Business at New York University.
For more than 15 years, GSAM has managed the portfolios of life and health, property and casualty, and reinsurance companies. The Global Insurance Asset Management Group currently manages over $83 billion in insurance assets1 and is ranked among the top 10 insurance asset managers worldwide.2 The group has nearly 30 dedicated insurance professionals1 focused on client relationship management, fixed income portfolio management, insurance advisory services and accounting policy. GSAM’s insurance capabilities include partial to full outsourcing solutions involving traditional fixed income strategies, alternative investments and equities. The group also offers a suite of advisory services geared toward helping insurers optimize their investment management process.
Goldman Sachs Asset Management is the asset management arm of The Goldman Sachs Group, Inc. (NYSE: GS), which manages $819 billion as of September 25, 2009. Goldman Sachs Asset Management has been providing discretionary investment advisory services since 1989 and has investment professionals in all major financial centers around the world. The company offers investment strategies across a broad range of asset classes to institutional and individual clients globally. Founded in 1869, Goldman Sachs is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals.
1 As of September 30, 2009. Insurance AUM includes $60 billion of general account assets.
2 Source: Insurance Asset Manager: Annual Survey, 2008 Edition.