CHICAGO--(BUSINESS WIRE)--Feb 3, 2026--
AAM Insurance Investment Management (AAM) announced today that Dan Byrnes, CFA, has been named Chief Executive Officer, effective April 4, 2026. Byrnes succeeds John Schaefer, CFA, who will transition to a Senior Advisor role as part of AAM’s long-term succession plan.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260203385196/en/
Byrnes currently serves as President and Senior Portfolio Manager at AAM. As CEO, he will assume responsibility for the firm’s overall strategy, operations, and client relationships, while continuing to uphold AAM’s long-standing client-centric culture.
“Dan has been an integral part of AAM’s success for more than two decades,” said John Schaefer. “He brings a deep investment expertise, strong leadership, and a collaborative approach that reflects our firm’s values. Dan will do a great job as our leader and will continue our ethos that places our clients’ interests first."
Prior to joining AAM, Byrnes worked as an accountant at CNA Insurance. He is a CFA Charterholder and a member of the CFA Society of Chicago. Byrnes earned a BS in Finance from the University of Illinois at Urbana-Champaign and an MBA from the Booth School of Business at the University of Chicago.
“I am honored to assume the role of CEO,” said Byrnes. “I want to thank John for his leadership of the firm over the years. I look forward to working with my colleagues at AAM to ensure we are a trusted partner for our clients and to continue helping our clients achieve their objectives.”
About AAM Insurance Investment Management
AAM Insurance Investment Management (AAM) is an investment management firm specializing in serving the insurance industry since 1982. AAM partners with Property & Casualty, Life, Health, and Government Risk Pool clients to deliver tailored investment solutions designed to meet regulatory, risk, and return objectives. As of December, 31, 2025, the firm has $27.4 billion of assets under management (AUM) for 121 insurance clients and has been named to the Pensions & Investments magazine list of Best Places to Work in Money Management* for nine straight years.
*The ‘Best Places to Work in Money Management’ accolade does not represent a statement of any advisory client and does not describe any experience with or endorsement of AAM as an investment adviser by any such client.
John Schaefer, CFA
Dan Byrnes, CFA
WASHINGTON (AP) — President Donald Trump is holding talks with Colombian President Gustavo Petro at the White House on Tuesday only weeks after threatening military action against the South American country and accusing the leader of pumping cocaine into the United States.
U.S. administration officials say the meeting will focus on regional security cooperation and counternarcotics efforts. And Trump on Monday suggested that Petro — who has continued to criticize Trump and the U.S. operation to capture Venezuela’s Nicolás Maduro — seems more willing to work with his administration to stem the flow of illegal drugs from Colombia.
“Somehow after the Venezuelan raid, he became very nice,” Trump told reporters. “He changed his attitude very much.”
Yet, bad blood between the leaders overshadows the sit-down, even as Trump sought to downplay any friction on the eve of the visit.
The conservative Trump and leftist Petro are ideologically far apart, but both leaders share a tendency for verbal bombast and unpredictability. That sets the stage for a White House visit with an anything-could-happen vibe.
In recent days, Petro has continued poking at the U.S. president, calling Trump an “accomplice to genocide” in the Gaza Strip, while asserting that the capture of Maduro was a kidnapping.
And ahead of his departure for Washington, Petro called on Colombians to take to the streets of Bogotá during the White House meeting. He planned to hold a news conference at the Colombian Embassy in Washington after the meeting with Trump.
Historically, Colombia has been a U.S. ally. For the past 30 years, the U.S. has worked closely with Colombia, the world’s largest producer of cocaine, to arrest drug traffickers, fend off rebel groups and boost economic development in rural areas. Colombia is also designated by the U.S. as a major non-NATO ally.
But relations between the leaders have been strained by Trump’s massing U.S. forces in the region for unprecedented deadly military strikes targeting suspected drug-smuggling boats in the Caribbean Sea and the eastern Pacific. At least 126 people have been killed in 36 known strikes.
In October, Trump's Republican administration announced it was imposing sanctions on Petro, his family and a member of his government over accusations of involvement in the global drug trade.
The Treasury Department leveled the penalties against Petro; his wife, Veronica del Socorro Alcocer Garcia; his son, Nicolas Fernando Petro Burgos; and Colombian Interior Minister Armando Alberto Benedetti.
The sanctions, which had to be waived to allow Petro to travel to Washington this week, came after the U.S. administration in September announced it was adding Colombia to a list of nations failing to cooperate in the drug war for the first time in three decades.
Then came the audacious military operation last month to capture Maduro and his wife to face federal drug conspiracy charges, a move that Petro has forcefully denounced. Following Maduro’s ouster, Trump put Colombia on notice and ominously warned Petro he could be next.
Colombia is “run by a sick man who likes making cocaine and selling it to the United States,” Trump said of Petro last month. “And he’s not gonna be doing it very long, let me tell you.”
But a few days later, tensions eased somewhat after a call between the leaders. Trump said Petro in their hourlong conversation explained “the drug situation and other disagreements.” And Trump extended an invitation to Petro for the White House visit.
The Colombian president is expected to use the meeting in part to detail his country’s counternarcotics initiatives to Trump. And in a diplomatic gesture amid the acrimony, Colombian officials said Petro came bearing gifts, including a signature Wounaan indigenous basket from Colombia's Chocó region for Trump and a handmade gown crafted by indigenous artisans from Nariño for first lady Melania Trump.
Trump on a couple of occasions has used the typically scripted leaders' meetings to deliver stern rebukes to counterparts in front of the press.
Trump and Vice President JD Vance lashed out at Ukrainian President Volodymyr Zelenskyy in February for showing insufficient gratitude for U.S. support of Ukraine. Trump also used a White House meeting in May to forcefully confront South African President Cyril Ramaphosa, accusing the country, with reporters present, of failing to address Trump’s baseless claim of the systematic killing of white farmers.
It was unclear if the meeting between Trump and Petro would include a portion in front of cameras.
Associated Press writer Moriah Balingit contributed reporting.
President Donald Trump speaks in the Oval Office of the White House, Monday, Feb. 2, 2026, in Washington. (AP Photo/Alex Brandon)
FILE - Colombian President Gustavo Petro arrives at the presidential palace in Panama City, Jan. 28, 2026. (AP Photo/Matias Delacroix, File)
