December 08, 2017
Gary Veerman Joins Capital Group as Head of LDI Solutions
Capital Group, home of the American Funds and one of the world’s largest investment management firms, announced today that Gary Veerman will be joining the firm as head of liability-driven investing (LDI) solutions.
Mr. Veerman has 16 years of industry experience and was most recently a managing director at BlackRock, where he was the head of U.S. LDI solutions. Prior to joining BlackRock, he was head of LDI strategy at Legal & General Investment Management America. Mr. Veerman began his career at Rocaton Investment Advisors and became the director of asset allocation research. At Rocaton, he advised large institutional investors on LDI program design and implementation.
“Liability-driven investing has always been an important topic for large pension plans and will continue to grow in significance as funded status improves,” said Mike Gitlin, head of fixed income and a member of the Capital Group Management Committee. “We are excited to have a leader with Gary’s experience in LDI join our team, and our focus will be on serving our existing clients while also expanding our business by offering our investment experience and services to others.”
“I am very pleased to be joining Capital Group given its outstanding investment platform and commitment to the LDI business,” commented Veerman. “In recent years, companies and their pension obligations have become increasingly sophisticated, and their needs require a world-class asset management partner like Capital Group. I believe that Capital Group’s LDI platform allows for strategic conversations with clients and will ultimately lead to improved outcomes for their pension plans.”
“This investment in our LDI business is another step in our broader vision to be an industry leading partner for the institutional market,” stated Ralph Haberli, sales director for Capital Group’s institutional retirement segment. “Over the past several years, we have been making major investments in talent, technology and systems, which will be dedicated to better serving larger DC and DB plans.”
Mr. Veerman holds a Master of Science in Global Financial Analysis from Bentley University and a bachelor’s degree from West Virginia University.
About Capital Group
Since 1931, Capital Group, home of the American Funds, has been singularly focused on delivering superior results for long-term investors using high-conviction portfolios, rigorous research and individual accountability. Today, Capital Group manages more than $1.6 trillion in equity and fixed income assets for millions of individual and institutional investors around the world.*
The Capital Group companies manage equity assets through three investment groups. These groups make investment and proxy voting decisions independently. Fixed income investment professionals provide fixed income research and investment management across the Capital organization; however, for securities with equity characteristics, they act solely on behalf of one of the three equity investment groups.
*As of June 30, 2017.