STAMFORD, Conn. -- GTE Corp. today named T. Britton Harris IV as president of GTE Investment Management Corp. (GTEIMC) effective immediately. Previously, he served as senior vice president - pension fund management for GTEIMC. He reports to GTE Executive Vice President - Finance and Planning J. Michael Kelly.
Harris, 39, succeeds John B. Carroll, who will become a senior advisor to GTE Investment Management Corp. and will remain as vice president of investment management for GTE Corp.
Britt has been an extremely capable leader in IMC since joining us in 1990, Kelly said. I am confident he will continue the excellent work IMC has done in administering GTEs pension assets, and advising senior management on all investment matters.
John is one of this countrys foremost experts in fund management, and has done a tremendous job in developing long-range policies and investment strategies for GTEs $20 billion in employee pension-related assets, Kelly said. Im very pleased he will continue to serve GTE in a key advisory role.
Prior to joining GTE, Harris was managing director of pension funds for Asea Brown Boveri (formerly Combustion Engineering). Previously, was an executive with Texas Utilities Co., where he was responsible for investment and finance programs.
GTE Investment Management Corp. oversees investment and administration of retirement and savings plan assets for both GTE Corp. and its operating affiliates in the United States and abroad. In addition, IMC works closely with the parent companys finance staff on capital structure decisions, financial risk management, investor relations and sovereign risk analysis.
With revenues of more than $21 billion in 1996, GTE is one of the largest publicly held telecommunications companies in the world. In the United States, GTE offers local and wireless service in 29 states and long-distance service in all 50 states. GTE was the first among its peers to offer one-stop shopping for local, long-distance and Internet access services. Outside the United States, where GTE has operated for more than 40 years, the company serves approximately 7 million customers. GTE is also a leader in government and defense communications systems and equipment, directories and telecommunications-based information services, and aircraft-passenger telecommunications.