(Bloomberg) — Western & Southern Financial Group Inc., the Cincinnati-based life insurer, hired Steven Kreider as chief investment officer from Legg Mason Inc.’s Western Asset Management.
Kreider, a former wide receiver for the Cincinnati Bengals in the National Football League, will oversee more than $46 billion at the Fort Washington investing business, Western & Southern said today in a statement. He starts on May 30 and replaces Nicholas Sargen, who’s taking the new position of chief economist.
“Steve brings extensive experience as a global money manager,” John Barrett, chief executive officer of Western & Southern, said in the statement “We welcome his expertise and leadership in managing investments across asset classes.”
Kreider had been head of insurance investments at Western Asset, which oversees about $72 billion for insurer clients. He has also worked at Morgan Stanley Investment Management and at money manager Miller, Anderson and Sherrerd, which Morgan Stanley acquired.
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Fort Washington manages funds for Western & Southern and third-party clients. Western & Southern’s portfolio included $28.7 billion of debt securities and $2.3 billion in equities as of Dec. 31, according to the company’s annual report.