Jamey Sharpe, Blue Cross and Blue Shield Association’s longtime executive director and chief investment officer, has retired.
Sharpe, who had been with the association since 1991, has already officially stepped down.
A spokesperson for Blue Cross Blue Shield did not immediately return a request for comment. Blue Cross Blue Shield launched a search for a new CIO and executive director in August 2021, but the organization has not yet announced Sharpe’s replacement.
Before joining Blue Cross Blue Shield, Sharpe spent six years with William Mercer and Watson Wyatt as a pension actuary.
Blue Cross Blue Shield’s investment office has had its fair share of action in the past two years. In September 2020, the fund sued investment and insurance giant Allianz for allegedly mismanaging and misrepresenting volatility investments. In total, Blue Cross Blue Shield allegedly lost $2 billion on Allianz’s Structured Alpha products.
At the same time, the firm sued its investment consultant Aon for allegedly downplaying the risks involved with investing in the products.
That lawsuit is still making its way through the court system, nearly a year and a half after it was initially filed.