I am pleased to announce that the Institutional Markets team is moving from the Financial Management Group (FMG) to Sentinel Investments, effective immediately.
Since its inception in early 2014, the Institutional Markets (IM) team, currently led by Brian Murphy, has been
Brian Murphy
focused on identifying institutional markets opportunities that leverage our core competencies and properly fit our risk profile. The most significant of these efforts has been the successful build-out and growth of our FHLB funding agreement business, in close partnership with our Investment team. I am very proud of what these teams have accomplished together. This partnership has allowed us to accumulate an additional $1.5 billion of AUM and generate approximately $75M of core earnings since its inception. Our run-rate core earnings expectation has grown to $25-30 million per year, which is a significant contributor to our overall profitability and strongly supportive of our growth strategy.
It is now time to bring these teams together to create an even stronger partnership and provide an opportunity for both teams to learn from each other while continuing to advance the Institutional Markets mandate. Brian will report directly to Jason Doiron and will continue to serve as interim Head of Treasury until the open position is filled. Ken Peterson and James McCauley will continue to report to Brian.
I am very excited about this move and I look forward to seeing the IM team thrive as a part of the Investments team.
— Bob Cotton