NEW ORLEANS--(BUSINESS WIRE)--Pan-American Life Insurance Group (PALIG), a leading provider of insurance and financial services throughout the Americas, announced today that Rodolfo “Rudy” Revuelta will be retiring as the company’s Executive Vice President and Chief Investment Officer. Mr. Revuelta, who rose through the ranks after joining PALIG more than 40 years ago as a securities analyst, was responsible for all of Pan-American Life’s investment portfolios, including those of the Group’s subsidiaries and affiliates.
Mr. Revuelta was named Chief Investment Officer in 2005 and Executive Vice-President in 2016. Under his steady stewardship, the Group executed a sound investment strategy designed to ensure a competitive rate of return for PALIG’s portfolio, which has grown to more than $5.2 billion in cash and invested assets.
“Rudy’s dedication to PALIG and the interests of our policyholders over the course of so many years is hard to match,” said José S. Suquet, Chairman of the Board, President and CEO of Pan-American Life Insurance Group. “I am grateful for his consistent leadership in guiding our investment strategy during a period of significant growth for the company.”
PALIG also announced that Steven A. Friedman is joining the company as Executive Vice President in a newly created role to lead the Investments, Corporate Development and Strategy functions. Mr. Revuelta will remain with PALIG in an advisory role until mid-2019 and to support the transition.
Mr. Friedman was most recently Senior Managing Director of Guggenheim Securities’ Financial Institutions Group. He has been an external advisor to PALIG for more than 10 years and has over two decades experience advising a variety of domestic and international companies across the life, property-casualty and reinsurance sectors. He has advised clients on more than $200 billion in corporate transactions, including mergers and acquisitions, divestitures, restructurings, recapitalizations, leveraged buyouts and capital funding.
Prior to joining Guggenheim Securities, Mr. Friedman was Head of Financial Services at Greenhill & Co. and Co-Head of Insurance for North America at UBS. He began his career as a lawyer with White & Case, practicing M&A and securities law. He graduated from the Wharton School of Business at the University of Pennsylvania with dual concentrations in Finance and Real Estate, and received his J.D. from Tulane Law School, cum laude.
“Steven has a deep understanding of the insurance industry and is well positioned to work with our senior management team to shape PALIG’s growth strategy in the future,” added Mr. Suquet. “His experience handling large corporate transactions will be invaluable in the newly expanded role of head of Investments, Corporate Development and Strategy.”
In addition to leading an investments team that has consistently achieved exceptional returns with a moderate risk profile, Mr. Friedman will play a leading role in identifying and evaluating organic growth opportunities and potential acquisitions for the company.
About Pan-American Life Insurance Group
Pan-American Life Insurance Group is a leading provider of insurance and financial services throughout the Americas that has been delivering trusted financial services since 1911. The New Orleans-based Group is comprised of more than twenty member companies, employs more than 1,950 worldwide and offers top-rated individual and/or group life, accident and health insurance, employee benefits and financial services in 49 states, the District of Columbia (DC), Puerto Rico, the U.S. Virgin Islands, and throughout Latin America and the Caribbean. The Group has branches and affiliates in Costa Rica, Colombia, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, and 13 Caribbean markets, including Barbados, Cayman Islands, Curacao and Trinidad and Tobago. For more information, visit the Pan-American Life Web site at palig.com, like us on Facebook @PanAmericanLife, follow us on Twitter @PanAmericanLife, and connect with us on LinkedIn at Pan-American Life Insurance Group.