Paul’s comprehensive background leading defined-benefit plans of varying sizes, conducting investment manager searches, due diligence and risk control oversight make him an excellent fit to the evolving business needs of American Beacon.
Irving, TX (PRWEB) June 01, 2016
American Beacon Advisors, Inc. (“American Beacon”), an experienced provider of investment advisory services to institutional and retail markets, announced today that Paul Cavazos will join the firm as Senior Vice President and Chief Investment Officer. Mr. Cavazos will be responsible for overseeing corporate pension plan investments and the investment sub-advisors to the American Beacon Funds. Mr. Cavazos will assume the role effective June 20.
“We are extremely pleased to welcome Paul to the company,” Gene L. Needles, Jr., Chairman, President and CEO of American Beacon said. “Paul’s comprehensive background leading defined-benefit plans of varying sizes, conducting investment manager searches, due diligence and risk control oversight make him an excellent fit to the evolving business needs of American Beacon.”
Mr. Cavazos joins American Beacon from Detroit-based DTE Energy Company, where he served as chief investment officer and assistant treasurer. In these roles, he was responsible for the development of asset allocation strategies as well as fiduciary oversight for DTE’s $10 billion in retirement trust assets. In 2014, Cavazos received the prestigious CIO Industry Innovation Award of the Year from Chief Investment Officer magazine. Prior to his time at DTE, he was chief investment officer at Navistar, where he was responsible for all investment aspects of the company’s $5 billion in retirement trust assets. Mr. Cavazos’s experience also includes investment and finance roles at The Boeing Company and Chrysler Corporation.
Mr. Cavazos is a former Executive Board member and working group member of the Committee on Investment of Employee Benefit Assets (CIEBA), which is a plan sponsor organization representing $1.5 trillion in retirement assets. He earned a Bachelor of Science degree in finance from Oakland University in Rochester, Michigan and his Master of Business Administration in finance from The University of Texas at Austin.
“I am excited about joining the outstanding team at American Beacon,” Cavazos said. “To be able to join one of the leading sub-advised mutual fund firms and be an integral part of achieving the firm’s growth objectives were very appealing to me.”
About American Beacon Advisors
Established in 1986, American Beacon is an experienced provider of investment advisory services to institutional and retail markets. American Beacon Advisors serves defined benefit plans, defined contribution plans, foundations, endowments, corporations and other institutional investors, as well as retail clients. The firm also provides corporate cash management and fixed-income separate account management.
American Beacon manages the American Beacon Funds, a series of competitively priced mutual funds. The Funds employ a “manager of managers” investment style and currently include international and domestic equity, fixed-income and money market funds. As of March 31, 2016, American Beacon Advisors had $51.4 billion in assets under management. For more information, go to http://www.americanbeaconfunds.com or follow on Twitter via @AmBeacon.