Nuveen expands UK insurance team
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Nuveen, the asset manager owned by the Teachers Insurance and Annuity Association of America, has appointed Kyrylo Sukhanenko as managing director, head of UK insurance, a newly created role to serve the firm’s growing insurance book in the UK.
Based in London, he will be responsible for further developing the asset manager’s UK insurance client segment. He will be involved in the product development, client and marketing strategy.
Sukhanenko joins Nuveen following 13 years at BlackRock, where he was most recently co-head of business development for its UK insurance business. Before BlackRock, he worked as an analyst in Merrill Lynch’s emerging market equity sales team.
He started his role at Nuveen last week and reports into Brian Schaper, managing director business development for the Global Client Group.
Schaper said: “This appointment is testament to Nuveen’s continued commitment to providing solutions that meet the complex portfolio needs of our expanding insurance client base. Kyrylo’s wealth of expertise in the UK insurance asset management sector will be invaluable in servicing our new and existing insurance clients.”
Nuveen has more than 125 insurance clients globally. As of 2022, it managed over $320bn of assets for insurers, of which 64% are fixed income. Life insurers account for the majority of Nuveen’s insurance clients (60%) and around a third of insurance assets (34%) are invested in Europe, the Middle East and Africa.
Sukhanenko said: “Nuveen’s proposition as essentially both an asset owner, via its parent company TIAA, and asset manager means it is extremely wellpositioned to provide the creative and compelling investment solutions UK insurers need to navigate the increasingly challenging macroeconomic and regulatory environment.”
