Aon, Blue Cross Blue Shield Pension Settle Lawsuit Over Hedge Fund Losses

October 3, 2022 | Justin Mitchell FundFire

Nevertheless, Aon’s position in the investment industry does not seem to have been adversely affected by the Blue Cross Blue Shield lawsuit, said Christopher Cutler, President of Manager Analysis Services, a search consultant and due-diligence provider, in an email.

“My sense is they escaped material damage to their business,” he wrote. Since Allianz GI appeared to be the one that covered investors’ tangible losses, that would bolster Aon’s argument that the problem lay with them, and not Aon, Cutler added.

“This approach would deflect from the central problem that Aon consultants exhibited a distinct lack of skill in understanding complex investment strategies by including Global Structured Alpha on their approved list,” he wrote.