NEW YORK, March 16 /PRNewswire/ --
In recognition of its growing client diversification, General Motors Asset Management (GMAM) has changed its brand identity to Promark Global Advisors, Inc. (Promark).
New York-based Promark manages over US$130 billion of assets, representing more than 30 employee benefit plans, foundations and other institutional clients. Along with its predecessor firms, Promark has been managing investments for employee benefit funds for more than 60 years. The Promark group includes Promark Investment Advisors, Inc., an SEC-registered investment adviser, and Promark Trust Bank, N.A., an OCC-chartered bank.
"GM remains our largest client and we expect the company to continue to be a vital part of our business," said Nancy Everett, CEO of Promark Global Advisors. "The experience gained through this relationship enables us to bring a unique perspective and commitment to managing the plan assets of other firms, a fact we are highlighting with the new brand."
Promark is focused on managing pension plans using asset and liability management solutions and developing customized investment programs for each client, as well as providing investment management for specific mandates, most notably alternative investments such as real estate and absolute-return strategies.
The change noted above is a name change only, and does not relate to any ownership or organizational changes with respect to Promark.
www.promarkglobal.com
Promark Global Advisors Fast Facts:
Senior Management: Nancy Everett, CEO, Tony Kao, Chief Investment Officer, Michael Klehm, President & COO
Employees: 140 employees, of which 50 are investment professionals
History: GM-affiliated investment groups began managing affiliated institutional assets during the 1940s. General Motors Investment Management Corporation (GMIMCO), now known as Promark Investment Advisors, Inc., was founded in 1990; General Motors Trust Bank, N.A. (GMTB), now known as Promark Trust Bank, N.A., began operations in 2003 as successor trustee to an affiliated bank and these entities have managed the Promark Funds, a family of bank-maintained collective investment funds, since 1999. The GM Asset Management (GMAM) name was adopted in 2000.
Ownership structure: Wholly-owned subsidiary of General Motors Corporation.
