Lockheed picks Colonna to lead LMIMCo

Lockheed Martin said today it has named Paul Colonna president and chief investment officer of Lockheed Martin Investment Management Co., effective Jan. 7.

He succeeds Chris Li, who retired from the job earlier this year.

Colonna "will be responsible for $70 billion in retirement trust assets and all facets of the investment strategy, portfolio management, manager selection, asset allocation, risk management, and due diligence for these trust assets, to help LMIMCo and Lockheed Martin meet their goals," the company said.

He previously was CIO of Fundamental Equities for State Street Global Advisors and, before that, CIO for Public Investments for GE Asset Management.