CIGNA Retirement & Investment Services has hired two investment management veterans to take over for executives leaving the firm. John Kim will become president of the CIGNA division, and Farhan Sharaff will become president and CIO of TimesSquare Capital Management, a division of CIGNA Retirement that operates institutional investment products.
Kim will take the place of Thomas Jones, who will retire later this year as planned following a transition period. Jones joined the firm in 19994 and has served as president of its investment management, individual life insurance and property-casualty reinsurance divisions. More recently, he led the effort to combine the firms retirement and investment management services to form the existing retirement and investment services division.
Kim joins CIGNA from BondBook where he served as CEO. BondBook, an electronic fixed-income trading platform, was shut down in October 2001. Prior to that, Kim served as CEO at Aeltus Investment Management, a subsidiary of ING Group, and managing director at Mitchell Hutchins Institutional Investors.
Sharaff, who will join CIGNA and TimesSquare Capital on March 1, will replace Robert Moore. Moore is leaving the firm to pursue career interests outside of the industry, according to the firm.
Sharaff joins CIGNA from Zurich Scudder Investments, where he served as global CIO. Prior to that, he held several positions in Citigroups investment management operations, and previously he was a founding partner of Centra Investments.