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Hobbs and Duffield: Last Year of Second Term

October 10 is not only the next meeting of SVIA’s Board of Directors. It is also the last scheduled meeting for long term retiring members of the Board. Aruna Hobbs, who heads AEGON Institutional Markets’ pension group and Nathaniel Duffield, Director of Trust Investments for Halliburton will be stepping down from the SVIA Board since the Association’s bylaws limit Board service to two-consecutive terms.

During Nat’s six years, he has shared his experience running multi-billion international defined benefit and defined contribution plans. Stable value remains a core offering in the Halliburton’s 401(k) plan, consistently garnering over 30 percent of assets.

Aruna has given her expertise on a wide range of issues affecting both GICs and wraps. However, she has distinguished herself by leading many of the Association’s initiatives to secure stable value’s accounting foundations. As Chair of the Association’s Accounting Committee, she led the Association through the standard-setting process with the Financial Accounting Standards Board that clarified and affirmed AICPA SOP 94-4. She is now working with the Accounting Committee to obtain guidance on synthetic GICs from the Governmental Accounting Standards Board for state and local plans who invest in stable value.