Douglas J. Brown Joins Exelon as Chief Investment Officer
Veteran Chrysler executive to lead management of pension and related assets
CHICAGO (Oct. 9, 2009) – Exelon Corporation today announced that it has named Douglas J. Brown senior vice president and chief investment officer, effective Nov. 16. Brown comes to Exelon following a 26-year career with Chrysler Corporation and its affiliates, where he most recently served as assistant treasurer and chief investment officer. He replaces George Shicora, who is retiring.
Reporting to William A. Von Hoene, Jr., executive vice president, finance and legal, Exelon, Brown will lead a team of professionals responsible for managing $15 billion of trust assets, including pension, post retirement, nuclear decommissioning trusts, defined contribution and non-qualified plan assets. He will be responsible for managing the governance of the plans, including investment practices, funding and related regulatory compliance.
“Adding Doug to our management team signifies the great importance we place on managing our pension and decommissioning assets, which comprise a very significant portion of our balance sheet. We have the utmost confidence in Doug’s abilities, as confirmed by the strong performance of pension funds previously under his care,” said Von Hoene.
As chief investment officer for Chrysler LLC, Brown led an organization responsible for all asset management activities globally for Chrysler LLC, including pension funds, defined contribution plans and other employee benefit trusts totaling $30 billion. Chrysler’s $20 billion U.S. pension fund has been among the top performing funds over the past one-, three- and five-year periods.
Brown’s career with Chrysler and its affiliates began in 1983. He was advanced to positions of increasing responsibility, including manager, financial planning and control for Chrysler Financial Corporation; treasurer for DaimlerChrysler Canada; and director, corporate finance and capital markets for DaimlerChrysler Corporation.
Exelon Corporation is one of the nation’s largest electric utilities with nearly $19 billion in annual revenues. The company has one of the industry’s largest portfolios of electricity generation capacity, with a nationwide reach and strong positions in the Midwest and Mid-Atlantic. Exelon distributes electricity to approximately 5.4 million customers in northern Illinois and southeastern Pennsylvania and natural gas to 485,000 customers in the Philadelphia area. Exelon is headquartered in Chicago and trades on the NYSE under the ticker EXC.