NU Online News Service, Aug. 16, 2004, 12:24 p.m. EDT

A major investment arm of Massachusetts Mutual Life Insurance Company, Springfield, Mass., has hired an international insurance executive.[@@]

Babson Capital Management L.L.C., Springfield, has named Arthur Djang managing director and investment coordinator for international insurance initiatives.

Djang will succeed Cort Shurtleff, who will “perform various special projects relating to [Babson's] international initiatives,” according to Babson.

Djang will oversee international insurance initiatives at Babson that manage the equivalent of more than $12 billion in assets. He previously was head of global risk management at AIG Global Investment Corp., a unit of American International Group Inc., New York, and he also has served as head of the portfolio advisory group at J.P. Morgan Securities Inc., New York. He started out as an assistant professor of operations research at the University of Kansas business school.

Djang has a bachelor’s degree in operations research from Columbia University and a doctorate in operations research from Stanford University.