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Liability Driven Investing

"We have been successful in this business over time because our clients value our holistic partnership approach that quantifies plan risks to the plan sponsor, utilizes our unique and proprietary tools and helps us design customized solutions specific to their needs."

- Frank Salem, Senior Portfolio Manager, Head of Liability Driven Investing

Investment Approach

  • Our LDI team partners with clients and their advisors to help them manage risk and reach their pension goals.
  • The team utilizes a Pension Risk Management framework to manage the relative volatility of assets and liabilities.
  • This approach allows the team to develop customized portfolios to each client's goals and risks.

Distinguishing Features

  • Columbia Management's LDI team manages over $4 billion in specific LDI mandates.
  • The team has been managing LDI strategies with a competitive track record since 1998.
  • The team includes portfolio managers, quantitative analysts, asset allocation strategists and an actuary with an average of 20 years of industry experience.
  • We offer a breadth of highly custom LDI solutions, including separate account management and a suite of collective trust funds.

Investment Professionals

Frank A. Salem , CFA

Senior Portfolio Manager Show Bio toggle

Frank Salem is a senior portfolio manager with responsibilities for liability-driven investment portfolio strategies at Columbia Management Investment Advisers, LLC. Mr. Salem joined Columbia Management Group (CMG) as a senior portfolio manager in 2007 from U.S. Trust where he was a senior portfolio manager from 1998 to 2007 and transitioned to Columbia Management Investment Advisers, LLC as part of its acquisition of the long-term asset management business of CMG from Bank of America. He has been a member of the investment community since 1978. Prior to joining U.S. Trust in 1998, Mr. Salem was a director and senior portfolio manager in the fixed income group at Mackay Shields. Mr. Salem received a B.S. from Canisius College and an M.B.A. from Columbia University. He is former director of the National Futures/Options Society and has lectured at the New York Institute of Finance. Mr. Salem also holds the Chartered Financial Analyst designation.

 

Karl S. Chang , CFA

Portfolio Manager Show Bio toggle

Karl Chang is a portfolio manager at Columbia Management Investment Advisers, LLC. In this role, Mr. Chang is responsible for providing custom investment solutions for clients and prospects in liability-driven investment (LDI) strategies. Mr. Chang joined Columbia Management Group (CMG) in 2007 from U.S. Trust and transitioned to Columbia Management Investment Advisers, LLC as part of its acquisition of the long-term asset management business of CMG from Bank of America. He has been a member of the investment community since 1997. Prior to joining U.S. Trust in 1998, Mr. Chang was with Salomon Brothers in the Treasury group. Mr. Chang received a B.A. in economics from The City College of New York and an M.B.A. from the New York University Stern School of Business. In addition, he holds the Chartered Financial Analyst designation.

 

Thomas J. Egan Jr. , FSA, EA, CFP®*

Actuary Show Bio toggle

Tom Egan is an actuary for Liability-Driven Investment clients of Columbia Management Advisors. In this role, Mr. Egan helps develop asset strategies that match the plan assets with the liabilities of pension plans and other programs. Mr. Egan has been assisting clients of Columbia since 2009. He has over 35 years of consulting experience working with large and complex companies in the U.S. During his career, he has been president and chief operating officer of a regional actuarial consulting firm, senior consultant with several major consulting firms and a senior HR partner at Pricewaterhouse Coopers. He received a B.A in mathematics from Southern Illinois University in Edwardsville, and a M.A. in mathematics from the University of Missouri. He is a Fellow of the Society of Actuaries, and Enrolled Actuary, and holds the Certified Financial Planner designation.

 

Orhan Imer , Ph.D., CFA

Portfolio Manager Show Bio toggle

Orhan Imer is a portfolio manager and head of Fixed Income Quantitative Analysis at Columbia Management Investment Advisers, LLC. He joined Columbia Management Group (CMG) in 2009 and transitioned to Columbia Management Investment Advisers, LLC as part of its acquisition of the long-term asset management business of CMG from Bank of America. Dr. Imer has been a member of the investment community since 2005. Prior to joining CMG, Dr. Imer worked as a senior quantitative strategist for the Investment Strategies Group at Bank of America/Merrill Lynch focusing on strategic and tactical asset allocation. Previously, he was a senior financial engineer at Algorithmics Inc., where he was responsible for designing and developing market risk, credit risk and asset liability management models for pension fund, insurance and asset management clients. Prior to Algorithmics, Dr. Imer was a researcher at General Electric’s Global Research Center. Dr. Imer received a Ph.D. from the University of Illinois at Urbana-Champaign. Dr. Imer is a member of the Boston Security Analysts Society. In addition, he holds the Chartered Financial Analyst designation.

 

Timothy (T. J.) Brannon

Associate Portfolio Manager Show Bio toggle

T. J. Brannon is an associate portfolio manager in the Taxable Fixed-Income Group at Columbia Management Investment Advisers, LLC, a position he has held since 2008. He joined Columbia Management Group (CMG) in 2007 and transitioned to Columbia Management Investment Advisers, LLC as part of its acquisition of the long-term asset management business of CMG from Bank of America . Prior to CMG, he held numerous fixed income trading positions at U.S. Trust from 2003 to 2007. He joined U.S. Trust in 2000, working first in the equity research department before moving to the taxable fixed-income group as a trading assistant from 2002 to 2003. He has been a member of the investment community since 2000. Mr. Brannon received a B.A. in economics from Vassar College. He is currently pursuing the Chartered Financial Analyst designation as a Level I candidate.

 

Contact Us

For more information on Columbia Management's LDI capabilities, please contact the LDI team

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