The news release said Kao replaces Nancy Everett, who had been functioning in a dual role as CEO and CIO, and who will remain as chief executive. The appointment is effective immediately.
According to the announcement, Kaohas been with GM Asset Management for 26 years, most recently as head of global public markets, where he was responsible for managing GMAM’s global equity, fixed income and trading activities for pension/health care benefits funds, insurance companies, and 401(k) plans.
Before that, Kao was head of fixed income at GMAM.
Kao earned his MBA in Finance from New York University, according to the announcement.