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Allstate Hires Soros' Ex-risk Manager (ALL)

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Allstate Hires Soros' Ex-risk Manager ALL

Allstate Corp. (NYSE: ALL) has hired former Soros Fund Management LLC risk manager Peruvemba Satish. Satish has been appointed as managing director and chief risk officer. He will manage Allstate’s (ALL) $100 billion investment portfolio.

Satish has over 10 years of risk-management experience. Allstate suffered huge losses during the recent financial crisis. Allstate realized $1.9 billion in investment losses during fourth quarter of 2008. The motor insurer has been trying to pare its risks.

 

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