United Methodist Board Invests In New Unit

United Methodist Church General Board of Pension and Health Benefits has made investments in a newly created division.

United Methodist Church General Board of Pension and Health Benefits has made investments in a newly created division, Pensions & Investments reports. The board has transferred its investment management operation and $17.5 billion in assets to Wespath Investment Management.

Wespath will market its investment management services to United Methodist foundations, hospitals, universities and other United Methodist-affiliated institutions. In January, the board also appointed Derek Casteel to manage the new unit’s marketing and client services effort as managing director before Wespath was formed.

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