Kestra hires Kara Murphy as CIO

The former executive at Goldman Sachs and AIG will head the firm's new investment effort, Kestra Investment Management.

Kestra Holdings, the Austin, Texas-based parent of several broker-dealers and registered investment advisory firms, has hired Kara Murphy as chief investment officer. She will lead a new division, Kestra Investment Management.

Murphy most recently served as chief investment officer and managing director at Goldman Sachs Personal Financial Management, the successor to United Capital Financial Advisors. Previously, she was chief investment officer at AIG Funds.

In her new role, Murphy will provide investment expertise and oversee the customized portfolio management consulting services offered to Kestra Holdings companies, including Kestra Financial, Grove Point Financial, Bluespring Wealth Partners and Arden Trust Co.

The team she is charged with building “will provide support on asset allocation, portfolio construction, and market trends in addition to providing a broad range of investment solutions,” the company said in a release.