Katherine Chiglinsky
The insurer now has 11 directors, Northbrook, Illinois- based
Allstate said Tuesday in a statement. Perold, 57, was president of Fidelity Management & Research Co., overseeing a group of mutual funds with about $1.8 trillion under management. He retired from Fidelity in 2014,
Allstate said.
Allstate joins insurers including Unum Group and
MetLife Inc. in naming former asset managers or Wall Street bankers to their boards. Unum, the provider of disability coverage, said in February that Ronald O’Hanley, one of Perold’s former bosses at Fidelity Investments and now chief executive officer of State Street Global Advisors, joined its board.
“Jacques is an accomplished leader and executive who further strengthens our board’s diverse capabilities,” Allstate CEO Tom Wilson said in the statement. “His strategic insights and 30 years of operations and investment expertise will be invaluable in creating shareholder value.”
Perold has been president of Geode Capital Management LLC, according to the statement. He is an advisory board member for New York Life Insurance Co.’s MainStay mutual funds and chairman of World Music Inc.
(Bloomberg)
