Veteran of state’s pension program and university system will stand in for the recently retired Holland Timmins.

The U.S. asset manager, which focuses on insurance, will keep CEO Woody Bradford.

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The scam, ongoing since 2014, involved selling silver coins to more than 200 investors, who then leased them back in exchange for monthly payments.

He succeeds Christopher Conkey, who will step down in December after more than 13 years with the firm.

Insurers that have historically stuck to fixed-income investments are adjusting their risk tolerance levels to take advantage of other opportunities.

Investors are sensing a regime shift in the market, but capturing it will take careful planning.