Goldman Sachs Asset Management announced its appointment as Outsourced Chief Investment Officer by Verizon Communications and Lockheed Martin to provide investment management services for their respective retirement plan assets.

Goldman Sachs Asset Management’s engagements collectively relate to over $70 billion in assets, with $30 billion in defined benefit OCIO assets under managementfor Verizon and Lockheed Martin and $40 billion in defined contribution  assets under advisement for Verizon.

The appointments reflect the broader industry trend of large corporate pension sponsors partnering with an OCIO provider to streamline oversight of managing complex portfolios across public and private markets. The appointments reinforce Goldman Sachs Asset Management’s position as a leading provider of OCIO services globally, with $480 billion in OCIO assets under supervision (AUS) globally as of 3/31/2026.

“Large plan sponsors are consolidating responsibilities with one partner with the investment expertise and depth of platform to manage their bespoke needs. We believe these mandates affirm our ability to deliver customized public and private market investment solutions for the world’s largest retirement plans, supported by continually evolving technology, deep experience and specifically designed infrastructure. We thank Verizon and Lockheed Martin for their trust in us,” said Marc Nachmann, Global Head of Asset and Wealth Management at Goldman Sachs.

Goldman Sachs Asset Management will work in close partnership with the plans’ fiduciaries to deliver a customized solution to help meet the needs of their respective beneficiaries.

Goldman Sachs Asset Management will draw on its global investment capabilities and a customized technology solution designed specifically for retirement plan management. The firm’s open‑architecture platform allows for flexible portfolio construction across asset classes, managers, and strategies, while maintaining a strong focus on risk management and delivering a custom liability hedging program. When paired with real-time, executive level analytics and transparency, we believe this approach supports robust governance and provides clear visibility into how implementation is tracking against strategic objectives.

Source: Goldman Sachs Asset Management