Chief Executive Officer
Pacific Global Advisors
Most corporations are thinking about de-risking
their pension plans. For that they can thank
David Oaten, CEO of New
Yorkbased Pacific Global Advisors, a consultant
and qualified professional asset manager for large
pension funds and other institutional clients. Oaten,
46, paved the way for liability-driven investing, which
matches assets to liabilities, and changed how pensions
are managed. In 2006 he filed for and received an
opinion from the Department of Labor that lets
corporations adopt an LDI approach. Oaten believes
there are alternatives to buying annuities from
insurance companies or handing out lump-sum checks to
retirees. His do-it-yourself annuity concept allows
sponsors to keep plans on their balance sheets but lock
down the risks like an insurer. Oatens route can
be cheaper than an annuity, though; it also sidesteps
the question of whether the insurance industry can
handle a big part of the $2 trillion in U.S.
corporate plan assets. The Australian expats
recommendations are the logical conclusion to his
groundbreaking odyssey in the pension business. In
2005, after almost 18 years at JPMorgan Chase & Co.
and its predecessor company, Oaten gathered experts
from capital markets, corporate finance, trading,
longevity and pensions to form a pension advisory
business within the firms investment bank.
Newport Beach, Californiabased Pacific Life
Insurance Co. bought the group in 2011; PGA now has
$20 billion in assets under advisement.