According to a press release, GMAM made the move “[i]n recognition of its growing client diversification.” The change is a name change only, and does not relate to any ownership or organizational changes with respect to Promark.
The announcement said New York-based Promark manages over $130 billion of assets, representing more than 30 employee benefit plans, foundations and other institutional clients. The firm focuses on managing pension plans using asset and liability management solutions and developing customized investment programs for each client, as well as providing investment management for specific mandates, most notably alternative investments such as real estate and absolute-return strategies.
More information is at www.promarkglobal.com .
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