Paul Colonna will succeed Chris Li as president and chief investment officer of the Lockheed Martin Investment Management Co., taking the reins from the former head on January 7.
Chris Li, the corporate plan’s previous leader, retired in June after 11 years at the helm.
Colonna will oversee the aerospace giant’s $70 billion in assets under management, controlling each facet of Lockheed’s investment strategy. He will also control the portfolio management, manager selection, risk management, and due diligence for these trust assets, to help the organization and the defense company that parents it meet their investing targets.
“Paul is an experienced investment officer and will provide the vision, leadership, and management expertise for Lockheed Martin’s investments,” said Bruce Tanner, Lockheed Martin’s executive vice president and chief financial officer.
Colonna previously was the executive vice president and CIO of fundamental equities for State Street Global Advisors, where he managed $30 billion in assets and an 80-member team. He had also served as the president and CIO for public investments at GE Asset Management, managing more than $100 billion in public fixed income and equity assets.
“I am very honored to be joining the team at Lockheed Martin and look forward to continuing the strong culture of providing superior financial outcomes for the company and the plan beneficiaries,” said Colonna.
Colonna could not be reached for direct comment.
Lockheed Martin declined comment.