NEW YORK--(BUSINESS WIRE)--Blackstone (NYSE:BX) today announced two new, additional senior hires in the firm’s Blackstone Insurance Solutions (BIS) group. Erich Schram, former Chief Investment Officer at Guggenheim Life and Annuity Company, has joined as Senior Managing Director, Head of Credit Origination and Trading, and Kevin Relihan, who was a Managing Director in Goldman Sachs Asset Management’s Insurance business, will join BIS as Managing Director, Head of Relationship Management.
BIS is a newly formed business delivering Blackstone’s private credit and alternative investment management expertise to insurers, helping those firms meet long-term policyholder obligations and drive shareholder value.
The hires mark the continued expansion of the business, which was launched in January with the appointment of Chris Blunt, former President of New York Life’s Investments Group, as a Senior Managing Director and Chief Executive Officer of BIS. Additionally, in January, Senior Managing Director Martin Alderson Smith moved over from Blackstone’s Corporate Development group to join BIS as its COO, and in March, Blackstone announced that Michael McRaith, former Director of the U.S. Department of the Treasury’s Federal Insurance Office (FIO), joined as a Managing Director for BIS.
Chris Blunt, CEO of Blackstone Insurance Solutions, said: “We are excited to welcome Erich and Kevin to the BIS team as we continue to build the business as a trusted partner to insurers. Erich’s investment management expertise and deep knowledge of the insurance market will add tremendous value to BIS. Likewise, we look forward to leveraging Kevin’s strong relationships across the industry and experience advising insurers on a range of issues as we grow the business.”
Erich Schram commented: “I am excited to join the BIS team as it continues to expand its offerings to the insurance industry. I believe there is a particularly significant, potential opportunity to use Blackstone’s unique access to private credit opportunities to help deliver enhanced investment performance for insurers.”
Kevin Relihan added: “I am pleased to join Chris, Erich and the other experienced individuals on the Blackstone Insurance Solutions team. Given its wide range of capabilities and products, Blackstone is a great partner for insurers seeking solutions to help better manage their long-term liabilities to policyholders.”
Erich Schram was most recently the Chief Investment Officer for Guggenheim Life and Annuity Company, where he was responsible for all direct investments and asset allocation. He received a BA in Economics from Amherst College.
Kevin Relihan most recently served as Managing Director and Co-Head of Goldman Sachs Asset Management’s North American Insurance Client Advisory business, where he led sales and service activities for the Americas. He holds a BS in Electrical Engineering from the University of Virginia and an MBA from The George Washington University.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our asset management businesses, with $450 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.