WEST CHESTER, PA — Venerable recently appointed Michal Levy president of its investment adviser operations, placing her in charge of approximately $52 billion in assets as insurers and annuity firms continue expanding in-house asset management and advisory capabilities.
Levy will oversee Venerable Investment Advisers and SunAmerica Asset Management, including strategy, product development, fund administration, operations, and sub-adviser oversight, the company announced.
The appointment follows Venerable’s acquisition earlier this year of SunAmerica Asset Management, known as SAAMCo, and comes as insurance and retirement firms increasingly seek tighter control over investment management operations tied to annuity and long-duration liabilities.
Levy joined Venerable in 2023 as head of Venerable Investment Advisers and helped lead the establishment and expansion of the business.
Before joining Venerable, Levy served as president of Equitable Investment Management, where she oversaw roughly $110 billion in assets across more than 120 investment options.
She also previously held strategy, asset management, and business development roles at Duff & Phelps and Putnam Investments.
“Michal is perfectly suited to take on oversight of our investment advisers, driving efficiencies within and across the organizations and ensuring their capabilities align to Venerable’s growth aspirations,” Miles Kaschalk, head of corporate development, said in a statement.
Levy will report to Kaschalk in her new role.
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