Due to AI, Norway’s $1.8T Pension Giant Needs No More Employees—for Now
The Government Pension Fund Global shed more than 37% of its workforce in 2024.
Newsmakers
Northern Trust Names Katherine McCabe to Lead OCIO Strategy
McCabe will spearhead relationships between Northern Trust’s asset servicing business and outsourced CIO providers in a newly created role.
Jonathan Grushkin Named CIO of Sanford Health
The organization’s inaugural investment head moves from the Cleveland Clinic investment office, which regularly produces future CIOs.
Chubb Promotes CIO Tim Boroughs to Head of Asset Management
The insurance company also promoted Deputy CIO Chris Hogan to succeed Boroughs as CIO.
Strategic Investment Group Names New Heads of Investment, Private Markets
Brendan Burke will lead the investment team, while Kevin Killeavy will oversee private markets.
CalPERS Seeks Capital Markets Deputy CIO
The individual will oversee the California pension’s publicly listed investments and will succeed Dan Bienvenue.
Spider Management Names Karen Horn Welch as CIO
The university-owned investment office oversees the $3.2 billion University of Richmond endowment.
MacArthur Foundation Names Bola Olusanya CIO
He succeeds the retiring Susan Manske to oversee the nearly $9 billion endowment.
PBGC Director Nominee Janet Dhillon Clears Senate HELP Committee
The Senate Committee on Health, Education, Labor and Pensions voted 12-11 to advance Dhillon's nomination to the full Senate.
Chad Tredway Named Global Head of Real Estate at J.P. Morgan Asset Management
Tredway was promoted from his current position as head of real estate for the Americas.
Australia’s Future Fund Makes Leadership Appointments
Nancy Collins is joining as the fund’s new chief financial and chief risk officer.
Conning CIO: Insurance Investors Should Be Patient Amid Market Volatility
Cindy Beaulieu emphasizes the quality of U.S. assets and advises insurers to stay true to their strategies.
Angie Davis Named CEO of JPMorgan’s Timberland Unit, Campbell Global
Davis will succeed John Gilleland in October as chief executive of the $10.1 billion manager.
Bridgewater Sustainable Investing Co-Chief Takes CIO Role at Acumen
Carsten Stendevad, who was also previously the CEO of Danish pension fund ATP will join the $500 million impact investor.
OCIO Provider Brown Advisory Expands to Abu Dhabi
The firm named Jack Weatherby as head of Middle East as part of a regional expansion.