Sammons Taps New CIO to Steer $135B Portfolio Toward Alternatives

WEST DES MOINES, IA – March 10, 2026 – Sammons Financial Group has announced a significant leadership change poised to reshape its investment strategy, appointing Sergi Turabelidze as its new Senior Vice President and Chief Investment Officer. Effective March 2, 2026, Turabelidze will take the helm of the firm's formidable $135 billion portfolio, a move that signals a deliberate pivot towards more sophisticated and diversified investment management.

Reporting directly to Chairman and CEO Esfand Dinshaw, Turabelidze will assume responsibility for all facets of the company's investment operations, including overarching strategy, asset allocation, and performance management. His appointment places him on the Senior Staff executive leadership team, underscoring the critical role he will play in shaping the employee-owned company's corporate direction and long-term financial health. The move is widely seen as a strategic effort to enhance returns and navigate an increasingly complex economic landscape.

A New Mandate for Growth and Stability

At the core of Turabelidze's mandate is the need to advance Sammons Financial Group's investment strategy to fuel enterprise growth while upholding its long-term business objectives. For a financial services giant whose member companies are built on stability, this requires a delicate balance between generating competitive returns and meticulously managing risk.

"Sergi is a collaborative and versatile asset management leader with extensive experience directing liability-driven investment strategies and building high-performing investment teams,” said Dinshaw in the official announcement. “As we look to the future, we are committed to continuing to invest in our internal investment management group under Sergi's leadership."

This endorsement highlights a key area of Turabelidze's expertise: liability-driven investing (LDI). LDI is a cornerstone strategy for insurance companies, which must ensure their assets can generate predictable cash flows to cover long-term liabilities to policyholders. By aligning the duration and cash flow of assets with future obligations, insurers can mitigate the risks posed by interest rate fluctuations and market volatility. Turabelidze's proven track record in this domain suggests a renewed focus on optimizing this critical function within Sammons' massive portfolio.

An Architect Forged in Alternatives and Reinsurance

Turabelidze's extensive and diverse career path provides a clear blueprint for the direction he may steer the company's investment engine. He joins Sammons from Sixth Street Partners, a leading alternative asset manager, where he was a Managing Director and a senior leader on its Insurance team. This experience is particularly relevant as insurers globally are increasing their allocations to alternative assets—such as private credit, infrastructure, and private equity—in a persistent search for higher yields and diversification away from public markets.

His background uniquely blends alternative asset expertise with deep insurance-sector knowledge. Prior to Sixth Street, Turabelidze served as Chief Investment Officer for Soteria Re, a Bermuda-based reinsurance company sponsored by Fidelity Investments, where he was a member of the founding executive leadership team. This role provided him with firsthand experience in constructing and managing a portfolio from the ground up to support reinsurance liabilities.

His career also includes a pivotal tenure as the Head of Investment Strategy for Reinsurance Group of America (RGA), where he was responsible for asset-liability management, asset allocation, and developing innovative investment capabilities. Earlier senior roles at financial titans Goldman Sachs and NISA Investment Advisors round out a resume that demonstrates proficiency across the entire spectrum of modern institutional investment management. This deep well of experience, from the sell-side to the buy-side and across both traditional and alternative asset classes, positions him to bring a holistic and forward-thinking perspective to Sammons.

Unlocking Value with an 'Open Architecture' Vision

In his own statement, Turabelidze signaled a key pillar of his forthcoming strategy: the enhancement and utilization of an "open architecture asset management platform." This model represents a departure from more traditional, siloed approaches where an institution relies primarily on its internal investment teams and proprietary products.

“I am excited to join the talented team at Sammons Financial Group,” Turabelidze stated. "By further investing in our internal capabilities and leveraging our open architecture asset management platform, we will continue to partner with best-in-class asset managers globally to deliver exceptional value for our clients."

An open architecture framework allows Sammons to cast a wider net, selecting and partnering with premier external asset managers from around the world who possess specialized expertise in specific sectors or strategies. For a $135 billion portfolio, this approach offers several distinct advantages. It provides access to a broader universe of investment opportunities, enhances diversification, and fosters innovation by tapping into external talent. This flexibility will be crucial for navigating different market cycles and customizing portfolios to precisely match the company's unique liability profile.

This strategy suggests a two-pronged approach: strengthening the internal team's core competencies while simultaneously building a robust network of external partners. The ultimate goal is to create a more dynamic and resilient portfolio capable of delivering superior risk-adjusted returns, which in turn translates into greater financial strength and enhanced value for the company's clients and employee-owners. The success of this model will hinge on a rigorous due diligence and selection process to identify and monitor these "best-in-class" managers, ensuring they align with the company's long-term vision and risk appetite.

The appointment of a CIO with Turabelidze's background and stated vision marks a pivotal moment for Sammons Financial Group. It reflects a proactive strategy to not only defend against market uncertainties but to actively pursue growth by embracing the evolution of institutional asset management. By integrating sophisticated LDI techniques with a broader allocation to alternative assets and leveraging a global network of specialized managers, the company is positioning its investment engine to power its future and uphold its promise of stability and security for the families and businesses it serves.