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Jun 27, 2023 | 
institutionalinvestor.com | Alicia McElhaney |Frances Denmark
The Cook County Pension Fund has landed a new chief investment officer roughly a year after director of investments Fernando Vinzons departed from the fund. Uwe Schillhorn, who most recently served as a program director for the Emerging Markets Investors Alliance, announced via LinkedIn on Tuesday that he had joined the fund.
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Jun 27, 2023 | 
institutionalinvestor.com | Michael Thrasher |Frances Denmark
Asset management firms are worried about external and internal threats to their businesses but many aren’t responding to those perils like they should, according to a study by Northern Trust and Coalition Greenwich, a data and analytics firm for the financial services industry. Even though 84 percent of managers expect that they will grow, just 22 percent plan to make changes necessary to their operating models to achieve efficiency and cost savings.
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Jun 26, 2023 | 
institutionalinvestor.com | Hannah Zhang |Frances Denmark
Investors and academics have often referred to BlackRock, Vanguard, and State Street Global Advisors as the Big Three asset managers. As huge providers of index funds, clients of these three managers are among the largest owners of publicly traded companies, raising concerns about their influence, including stewardship challenges.
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Jun 21, 2023 | 
institutionalinvestor.com | Michael Thrasher |Frances Denmark
Despite rising interest rates and the possibility of a recession, deal activity involving wealth and asset management firms remains robust, partly because of a surging interest in private credit firms. During the 12-month period ending in May, there were more than 300 mergers and acquisitions with wealth or asset managers in the U.S. — slightly outpacing the total number of deals in 2021, when markets were more amenable to companies buying and selling one another, according to a PwC report.
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Jun 21, 2023 | 
institutionalinvestor.com | Alicia McElhaney |Frances Denmark
After several months of searching, the Virginia Tech Foundation has hired a new chief investment officer. David Greenberg, who was the CIO at the California Endowment, has been hired by the VTF to establish operations and expand its investment team in Richmond, Virginia, the foundation confirmed to Institutional Investor on Wednesday. “I am pleased to join VTF at this moment in time,” Greenberg said in a statement.
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Jun 20, 2023 | 
institutionalinvestor.com | Alicia McElhaney |Frances Denmark
John Redett, the 16-year Carlyle veteran who has been leading the global financial services group since 2016, has been named the firm’s new CFO and head of corporate strategy, effective October 1. Redett will succeed Curt Buser, who is retiring at the end of 2023 after a 19-year career with the firm. This is another step in Carlyle’s succession planning process, which kicked off in 2018 when co-founders David Rubenstein and Bill Conway stepped down.
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Jun 16, 2023 | 
institutionalinvestor.com | Julie Segal |Frances Denmark
Rip Reeves will become the new CEO of Institutional Investor, beginning July 3. Reeves, a 40-year industry veteran, was the chief investment officer and treasurer of AEGIS Insurance Services for more than a decade and was the global CIO of the Argo Group in Pembroke, Bermuda. The former insurance allocator has been working closely with II events, most recently as co-chair of the Institutional Investor Institute and Alternative Investor Institute along with Cynthia Steer.
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Jun 16, 2023 | 
institutionalinvestor.com | Michael Thrasher |Frances Denmark
Jay Sole, a sell-side analyst at UBS, is one of the top-rated researchers covering retail and department stores — does the investment bank also need his Credit Suisse rival, Michael Binetti? Similarly, if Moshe Orenbuch at Credit Suisse is the top-rated analyst covering consumer finance, does UBS need another well-paid senior researcher doing similar work?
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Jun 15, 2023 | 
institutionalinvestor.com | Hannah Zhang |Frances Denmark
With a fresh injection of capital from East West Bankcorp, Jason Hsu’s Rayliant Global Advisors has a new goal: To expand its investment research capabilities by using artificial intelligence tools. East West Bankcorp, which owns East West Bank, the largest independent bank headquartered in Southern California, made a non-controlling equity investment in Rayliant last month.
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Jun 14, 2023 | 
institutionalinvestor.com | Michael Thrasher |Frances Denmark
BlackRock — the world’s largest asset manager with more than $9 trillion of assets — has a vision for the asset management industry: In the future, it won’t just be competing for capital from the biggest institutions and small investors. It will be a central part of how most asset managers and owners operate.
