Paul Colonna was named president and chief investment officer of Lockheed Martin Investment Management Co., effective Jan. 7, according to a Lockheed Martin news release.
Mr. Colonna succeeds Chris Li, who retired earlier this year.
Previously, Mr. Colonna was the executive vice president and CIO of fundamental equities for State Street Global Advisors. In his new post, he will be responsible for $32.5 billion in defined benefit assets and $38.5 billion in defined contribution assets of Bethesda, Md.-based Lockheed Martin, of which LMIMCo is a subsidiary.
At State Street, Mr. Colonna managed $30 billion in assets and led a team of 80 investment professionals. Prior to that, he was the president and CIO for public investments for GE Asset Management, where he managed more than $100 billion in assets across public fixed income and equities, according to the news release.
“Paul is an experienced investment officer and will provide the vision, leadership and management expertise for Lockheed Martin’s investments,” Bruce Tanner, Lockheed Martin executive vice president and chief financial officer, said in the news release.
A State Street representative could not immediately be reached for comment.