WASHINGTON, Feb. 13, 2013 /PRNewswire/ -- Kevin P. Murphy, who has worked more than 25 years with union pension funds, has joined the AFL-CIO Housing Investment Trust (HIT) as Regional Marketing Director. Mr. Murphy, formerly of Fifth Third Asset Management, will be responsible for the HIT's marketing strategy in the Northeast U.S. and will handle investor relations in that region for the $4.6 billion investment company.
Mr. Murphy's marketing experience has focused on Taft-Hartley funds. Prior to joining the HIT in Washington, DC, he was Director of Taft-Hartley Sales for Fifth Third Asset Management in Washington, DC, where he was responsible for developing the Taft-Hartley institutional investment market in the Mid-Atlantic Region.
From 1999 to 2003, Mr. Murphy served as Director of Taft-Hartley sales in the Mid-Atlantic Region for Columbia Management. He was previously Vice President of Taft-Hartley sales for ASB Capital Management/Chevy Chase Bank, spearheading the group's entry into the Taft-Hartley market, and for Blue Cross Blue Shield of the National Capital Area, both in Washington, DC. He also spent five years in sales and client services with ULLICO in Washington, DC. Mr. Murphy holds a Bachelor of Arts degree from Mount St. Mary's University in Emmetsburg, Maryland.
"We are very pleased to welcome Kevin to the HIT," said Lesyllee White, HIT Senior Vice President and Managing Director of Marketing. "His many years of experience, especially in the Taft-Hartley market, will be a valued addition to the HIT's marketing program as we work to serve the needs of our investors." The HIT's investors include Taft-Hartley and public employee pension funds with union member beneficiaries.
About the HIT
The AFL-CIO Housing Investment Trust (HIT) is a fixed-income investment company registered with the Securities and Exchange Commission. It manages $4.6 billion in assets for over 365 investors, which include union and public employee pension plans. The HIT invests primarily in government and agency insured and guaranteed multifamily mortgage-backed securities. The HIT is one of the earliest and most successful practitioners of socially responsible, economically targeted investing, with a track record of almost 50 years that demonstrates the added value derived from union-friendly investments. The investment objective of the HIT is to provide competitive returns for its investors and to promote the collateral objectives of constructing affordable housing and generating employment for union members in the construction trades and related industries. Since its inception, the HIT has invested over $6.5 billion to finance more than 105,000 units of housing nationwide, generating more than 70,000 union jobs. More information is available on the HIT's website, www.aflcio-hit.com.
Michael K. Frisby
SOURCE AFL-CIO Housing Investment Trust