Pacific Life Promotes Joe Krum to Senior Vice President in Institutional Division
Krum to oversee global institutional investment group
NEWPORT BEACH, Calif. – Feb. 13, 2023 – Pacific Life today announced the promotion of Joe Krum to senior vice president, where he will lead the company’s global institutional investment group.
Under Krum’s leadership, Pacific Life’s institutional spread lending program has grown to more than $10 billion since its launch in June 2020. He was also responsible for spearheading the development of Pacific Life’s Sustainable Bond Framework and the issuance of the company’s inaugural sustainability bond, as well as the expansion of Pacific Life’s Funding Agreement-Backed Note (FABN) platform, growing it into a global program with successful transactions in the Americas, Asia, and Europe.
“We’re pleased to celebrate Joe’s well-deserved promotion,” said Brian Woolfolk, executive vice president and head of Pacific Life’s institutional business. “Joe’s proven track record of successfully executing many of our most important strategic transactions makes him an excellent fit for this role. We are extremely proud of his accomplishments and are excited to see what he achieves in the future.”
Krum’s promotion comes on the heels of the team’s £350 bond issuance in January 2023, marking the first United Kingdom issuance of the Pacific Life Global Funding II program.
“I am honored to receive this appointment and lead this incredibly talented team,” said Krum. “The growth of this program demonstrates our intention and commitment to the market and focus on driving innovation in the global investment markets.”
In April of 2021, Pacific Life’s Institutional business launched one of its most innovative projects, the Sustainable Bond Framework, which provides for the issuance of sustainable bonds that allow Pacific Life to further its impact on the community, environment, and the underserved. Under the framework, an amount equal to the net proceeds from the sale of the sustainability bonds will be allocated to fund green and social investments, including conservation, renewable energy, and community-building initiatives such as affordable housing and education for target populations.
Krum joined Pacific Life in 2001 and has served in various roles, including vice president and treasurer. As senior vice president, he will assume broader operational responsibilities and oversee the strategic growth and development of Pacific Life’s products providing institutional investment solutions, including the stable value wrap and health savings account programs, which have more than $40 billion of assets combined.
For more information about Pacific Life’s Global Institutional Investment Group, visit: https://paclife.co/f6fjbw.
About Pacific Life
For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2022 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2022 is compiled by Pacific Life using the 2022 FORTUNE 500® list.
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