Pacific Life Hires Richard Talmadge as Head of Private ABS

Insurance company Pacific Life has hired Richard Talmadge as head of private asset-backed securities.

Talmadge joined Pacific Life earlier this month as a managing director and head of the private ABS team, according to his LinkedIn page. The move follows a decade-long career at Insight Investment, where he had been a portfolio manager, his LinkedIn shows.

Pacific Life and Talmadge declined to comment. Insight didn’t reply to a request for comment.

Private markets have grown rapidly in recent years, and insurers are among those increasingly investing more capital there. That’s partly because they’re selling more annuities and need to buy ...