Advantus Capital Management, a Minnesota firm with more that $20 billion in institutional assets, has named Randal Harrison, VP and director of its insurance advisory practice, effective immediately.
He succeeds Marilyn Froelich. Froelich is retiring, but will remain with Advantus Capital until the end of the year to ensure a smooth transition. She has been head of the group since 1998, a Sept. 29 statement said.
Advantus Capital is currently responsible for $15 billion in insurance assets. In its announcement, the firm noted that assets in the space have grown “an average of 15% annually since 2005 and doubled since 2003.” This increase is largely due to client growth, Advantus Capital said.
Previously, Harrison was a managing director and senior fixed-income manager for RBC Global Asset Management. He has also worked in client service and business development.
It could not be ascertained if he has been replaced at RBC, however, as an inquiry to the firm did not receive an immediate response by IMW’s press time.