OCIO Growth in 2019: The Party’s Over

10 / 29 / 2019
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by Charles Skorina | Comments are closed

In this issue

  • Skorina’s 2019 OCIO report: Not so easy
  • Eight OCIO providers hold half the assets
  • The 15 fastest-growing outsourcers

 

No one knows exactly when the Southern Cottontail Rabbit diverged from its other 19 (or so) North American Cottontail cousins, becoming its own distinct species of bunny.

In evolution these things just happen.

Similarly, among financial institutions, modern banks seem to have evolved from traditional moneylenders somewhere in northern Italy in the late 14th century.  But that fateful development could only be recognized in retrospect.

Our friend John Hirtle, of Hirtle, Callaghan & Co, claims that he (with fellow Goldman Sachs vet Donald Callaghan) birthed the OCIO species in 1988.  He’s a very nice (and imposing) man, so we take him at his word.

In any case, there were soon several smallish firms pursuing the OCIO business model in the early 1990s.

The core idea was to offer a diversified and full-discretion money management function to family offices and others who could no longer effectively or affordably do the job in-house (even with the help of traditional trust banking services).

The job was becoming too sophisticated and complex, both conceptually and operationally.

Observing their success, a number of larger firms joined the scrum in the OCIO space and, in a couple of decades we had the OCIO landscape of today, managing not just billions, but trillions of dollars.  And reaping proportionate fees therefrom.

We’ve been charting the growth of the OCIO industry for the past decade in our annual OCIO report and the heirs of Hirtle, big and small, seem (mostly) to have flourished.

In our shiny new 2019 report we observe that total OCIO assets grew from $1.98 Trillion to $2.38 Trillion. That’s a year-over-year growth rate of 19 percent.

That’s pretty impressive! But, the AUM increase is not as vigorous as the annual growth over the previous four years (2014 through 2018).  And some of the increase represents a “reclassification of assets” at two OCIO providers.

So, three decades into the OCIO era, we’re minded to ask whether the OCIO growth rate may be slowing, maybe even plateauing.  Are the OCIO rabbits multiplying faster than the green, green grass of customer money they live on?

Let’s consider the evidence, both statistical and anecdotal.

The hard numbers

Eighty-three firms have updated their AUM and contact information for our 2019 Outsourced Chief Investment Officer (OCIO) report.

Outsourced assets as of June 30th topped $2.37 trillion, up 19.4% or $386 billion from the nearly two trillion we reported a year ago.  Most of these assets are from U.S. institutions and UHNW families but not all.  We estimate that about ten percent of assets came from foreign entities.

A few firms dropped off our list thanks to acquisitions by Goldman Sachs (Aptitude and Rocaton) and Mercer (Pavilion and Summit Solutions) and a few others cut their losses and retooled their business model.

New firms joining the OCIO fray, include a billion-dollar spin-out of the Oklahoma State University Foundation called MEMCO or Multilateral Endowment Management Company, with Kirk Jewell as CEO and Ryan Tidwell as CIO.

At first glance, a 19.4 percent jump in outsourcing business seems healthy and auspicious.  But there are caveats.

The $147.6bn jump in AUM at SEI and Wilshire was in large part a result of reclassifications, i.e., the money was already on the books in discretionary accounts, just moved to their OCIO column.

Remove Wilshire and SEI from our tally and growth for the rest of the group rose 12.6 percent.  Still not bad, but now for a second caveat.

Six firms hold almost half the $2.3trillion on our list and they did fine.

These big six, Aon, Blackrock, Goldman Sachs, Mercer, Russell and Willis Towers Watson manage $1.07 trillion or 45  percent of the assets and grew a robust 16.14 percent.

But the rest faced headwinds.  Seventy-five firms, excluding Wilshire, SEI and the big six, competed for the remaining business and gained a so-so 9.21 percent in assets.

This is a big come-down from the prior six-month jump of 17 percent we wrote about last year and the 21 percent leap the year before.

Our OCIO contacts offered a variety of reasons for this slow-down.  The sector is more competitive than ever, bids and margins are collapsing by 30 to 40 percent (in some cases by much more), and the low-hanging fruit of past years, corporate pensions, are fewer and farther between.

But, there were also macro factors at work.

According to a recent Boston Consulting Group report, global financial wealth grew by only 1.6% to $205.9 trillion dollars in 2018 compared to 7.5% in 2017 and 6.2% CAGR from 2013 to 2017.

And projected returns for various assets classes – six to six and a half percent at best (see our first chart below) – suggest challenging times ahead for all money managers.

Projected returns for assets in 2020

(Consensus projections Alan Biller & Co.)

Assets

 

Projected

Returns

 

Cash

2.5%

Fixed Income US core

3.1%

High Yield

4.4%

Equities US large cap

5.7%

Infrastructure

6.0%

Private debt 

6.4%

Int’l Equities large cap

6.6%

Real Estate institutional

7.0%

Emerging market equities

(25% volatility)

 

7.9 %

 

Private Equity

8.3%

 

We prefer, however, to “accentuate the positive” by highlighting fifteen firms that grew the fastest over the past year. 

The first chart ranks the Top 15 firms by percentage growth in assets, whether the firm is large or small.

The second chart ranks the Top 15 firms in dollar growth which, as you might expect, is dominated by the big guys.

Top 15 OCIO firms by percentage growth in AUM

(12 months ending June 30, 2019 unless otherwise noted)

   Company 

Percent increase in AUM

Dollar increase  AUM $bns

Discretion  AUM $bns  Jun/Mar 2019

Discretionary AUM $bns  March 2018

1

BNYMellon Investment Mgmt

(3-31-19)

142.9%

$11.00

$18.70

$7.70

2

Meketa Fiduciary Mgmt

112.2%

$8.30

$15.70

$7.40

3

LCG Associates

(3-31-19)

83.8%

$0.32

$0.70

$0.38

4

NEPC

53.7%

$9.50

$27.20

$17.70

5

Angeles Investment Advisors

53.1%

$1.70

$4.90

$3.20

6

BlackRock

(3-31-19)

51.6%

$64.00

$188.00

$124.00

7

Clearbrook Global Advisors

45.5%

$0.38

$1.20

$0.83

8

Rockefeller & Co.

45.0%

$4.90

$15.80

$10.90

9

State Street Global Advisors

35.3%

$32.30

$123.70

$91.40

10

Cambridge Associates

(3-31-19)

30.4%

$9.10

$39.00

$29.90

11

DiMeo Schneider Associates

(3-31-19)

30.0%

$1.20

$5.20

$4.00

12

SunTrust Bank

(3-31-19)

26.5%

$2.70

$12.90

$10.20

13

Hall Capital Partners

23.7%

$1.80

$9.40

$7.60

14

Arthur J. Gallagher

23.1%

$0.60

$3.20

$2.60

15

UBS AG

(12-31-18)

22.0%

$2.80

$15.80

$13.00

Average/Total

45.5%

$150.60

$481.40

$330.81

 

Top 15 OCIO firms by dollar growth in AUM

(12 months ending June 30, 2019 unless otherwise noted)

Company

Dollar increase  AUM $bns

Percent increase in AUM

Discretion  AUM $bns  Jun/Mar 2019

Discretion AUM $bns  March 2018

1

BlackRock

(3-31-19)

$64.1

51.6%

$188.0

$124.0

2

Mercer

$40.3

16.7%

$282.0

$241.7

3

State Street Global

$32.3

35.3%

$123.7

$91.4

4

Goldman Sachs

$27.1

20.0%

$162.3

$135.2

5

AON Hewitt

(3-31-19)

$14.6

10.7%

$151.3

$136.7

6

Willis Towers Watson

(3/31/19)

$14.0

11.7%

$134.0

$120.0

7

BNY Mellon IM

(3-31-19)

$11.0

142.9%

$18.7

$7.7

8

NEPC

$9.5

53.7%

$27.2

$17.7

9

Cambridge Assoc

(3-31-19)

$9.1

30.4%

$39.0

$29.9

10

Meketa Fiduciary Mgmt

$8.3

112.2%

$15.7

$7.4

11

Vanguard

$8.0

19.1%

$50.0

$42.0

12

Morgan Stanley/ Graystone

$5.2

19.4%

$32.0

$26.8

13

Rockefeller & Co.

$4.9

45.0%

$15.8

$10.9

14

Northern Trust

$4.7

6.5%

$76.8

$72.1

15

Alan Biller & Assoc

(3-31-19)

$4.4

9.8%

$45.0

$41.0

Total/Average

$257.5

23.3%

$1361.5

$1,104.50

 

Prophesy is a good line of business, but it is full of risks

 

Mark Twain

 

We were about to add some learned remarks on where the OCIO business was headed when a quote by Mark Twain came to mind.  Umm…maybe not.  Best to get on with the show.

 

And now…without further delay…the Main Event!

 

Skorina’s OCIO list: 83 firms

June 2019 edition

 

 

  Skorina’s 2019  OCIO

(Outsource Chief Investment Officer) List

(12 months ending June 30, 2019 unless otherwise noted)

 

1

Agility (Perella Weinberg)

Chris Bittman, CIO

Denver, CO

(303) 813-7910

$9.8bn (6-30-19)

Email link

 

 

 

 

2

Alan Biller and Associates

Alan D. Biller, CEO & Sr Consultant

Menlo Park, CA

(650) 328-7283

$93.63bn total

$45bn discretionary (3-31-19)

Email link

 

 

 

 

3

Angeles Investment Advisors

Michael A. Rosen, CIO and Managing Partner

Santa Monica, CA

(310) 857-5821

$32bn advisory

$4.9bn discretionary (6-30-19)

Email link

 

 

 

 

4

AON Hewitt

Ed Bardowski, Director, Business Development

Chicago, IL

(484) 941-1409

$3.1trillion advisory (6-30-18)

$151.31bn discretionary (3-31-19)

Email link

 

     

5

Appomattox Advisory

Susan Webb, Founder, Pres, CIO

Oscar Gil, Founder, CEO

Drianne Benner, MD

New York, NY

212 895-3012

$1.7bn discretionary (6-30-19)

Email link

 

 

 

 

6

Artemis Wealth Advisors

Peter M. Rup, Founder & CIO

New York, NY

(212) 838-9000

$1.32mm total 

$754mm discretionary (6-30-19)

Email link

 

 

 

 

7

Arthur J. Gallagher & Co.

Michael W. Johnson, Area President Institutional Investment & Fiduciary Services

Washington, DC

(202) 898-2270

$59.13bn advisory 

$3.2bn discretionary (6-30-19)

Email link

 

 

 

 

8

Athena Capital Advisors

Lisette Cooper, MP/CIO

Lincoln, MA

(781) 274-9300

$5.882bn total 

$5.212bn discretionary (12/31/18)

Email link

 

 

 

 

9

Balentine

M. Rob Ragsdale, Partner

Atlanta, GA

(404) 537-4800

(984) 355-5201

$3.1bn (6-30-19)

Email link

 

 

 

 

10

Ballentine Partners

Will Braman, CIO

Waltham, MA

(781) 314-1300

 

$12.3bn total

$7bn discretionary (3-31-19)

Email link

 

     

11

BlackRock

Jeff Saef, MD, Head Americas Region/ Client Portfolio Solutions

New York, NY

(609) 282-8950

$775bn Advisory

$188bn discretionary (3-31-19)

Email link

 

     

12

BNY Mellon Investment Management

Andrew D. Wozniak, Head of Fiduciary Management

New York, NY

(412) 236-7940

$18.7bn global discretionary (3/31/19)

Email link

 

 

 

 

13

Callan LLC

Jim Callahan, President

San Francisco, CA

(415) 974-5060

$2.4trillion advisory

$19.4bn discretionary (3-31-19)

Email link

 

     

14

Cambridge Associates

Deirdre Nectow, Mgn Director

Boston, MA

(617) 457-1781

$405bn advisory 

$39bn discretionary (3-31-19)

Email link

 

 

 

 

15

Canterbury Consulting

Poorvi Parekh, Director of Outsourced Investments

Newport Beach, CA

(949) 718-2224

$20.2bn advisory

$1.9bn discretionary (12-31-18)

Email link

 

 

 

 

16

Clearbrook Global Advisors

Elliott Wislar, CEO

Gregg Sibert, Chief Mrktg Officer

New York, NY

(212) 683-6686

$15bn advisory 

$1.2bn discretionary (6-30-19)

Email link

Email link

 

     

17

Commonfund

Tim Yates, Mgn Dir, Head Strategic Solutions

Wilton, CT

(203) 563 -­5238

$24.9bn discretionary (3-31-19)

Email link

 

     

18

CornerStone Partners

David Russell, Sr Mgn Dir

Charlottesville, VA (434) 295-3947

$10.5bn (3-31-19)

Email link

 

 

 

 

19

Deutsche Bank

Brett Lane, Head of Institutional Advisory Services

New York, NY

(212) 454-0816

$6.1bn advisory (6-30-19)

$15.2bn discretionary (6-30-19)

Email link

 

     

20

DiMeo Schneider & Assoc.

Jon Fellows, Partner & Chair,

Discretionary Committee

Matt Porter, Partner & Vice-chair Discretionary Committee

Chicago, IL

(312) 853-1000

$91bn advisory

$5.2bn discretionary (3-31-19)

Email link

Email link

 

 

 

 

21

Disciplina

Matthew W. Wright, President & CIO

Nashville, TN

(615) 490-6007

$300mil discretionary (6-30-19)

Email link

 

 

 

 

22

Discretionary Management Services (DeMarche Assoc.)

Thomas C. Woolwine, President

Overland Park, KS

(913) 981-1345

$23.7bn advisory 

$345.9mm discretionary (3-31-19)

Email link

 

 

 

 

23

Edgehill Endowment Partners

Ellen Shuman, Mgn Partner

Nina F. Scherago, Mgn Partner

New Haven, CT

(203) 654-3552

(203) 654-3551

$1.75 discretionary (6-30-19)

Email link

Email link

 

 

 

 

24

Ellwood Associates

Daniel Simon, Director OCIO consulting

Chicago, IL

(312) 782-5432

$67bn advisory

$1.bn discretionary (3-31-19)

Email link

 

 

 

 

25

Fidelity Institutional AM (ex Pyramis)

Jim Zadrozny, SVP institutional sales

Smithfield, RI

(401) 292-4760

(401) 209-0523 cell

$838bn global

$21bn discretionary (6-30-19)

Email link

 

     

26

FEG Investment Advisors

Devinne Kelly, Sr Client Development Associate

Cincinnati, OH

(513) 827-3204

$60.1bn advisory 

$6.3bn discretionary (12-31-18)

Email link

 

 

 

 

27

Gallagher Fiduciary Advisors

Michael Johnson, President

Phil Sabrizio, Area director

Washington, DC

(202) 898-2270

$59.13bn advisory

$3.2bn discretionary (6-3-19)

Email link

 

 

 

 

28

Gerber Taylor

Matthew Kinnear, Client Development

Memphis, TN

(901) 526-9750

$7.8bn advisory

$5.6bn discretionary (6-30-19)

Email link

 

 

 

 

29

Glenmede
Gordon Fowler, Jr., President, CEO & CIO

Philadelphia, PA

(215) 419-6640

$39.9bn total

$9.2bn tax-exempt OCIO (6-30-19)

Email link

 

 

 

 

30

Global Endowment Mgmt

Stephanie Lynch, Partner

Charlotte, NC

(704) 333-8282

$10.3bn (6/30/19)

Email link

 

     

31

Global Strategic Investment Solutions

Don Callaghan, Mgn Partners

Scottsdale, AZ

(480) 935-2134

$500mil discretionary (9-30-19)

Email link

 

 

 

 

32

Goldman Sachs

Gregory Calnon, Mgn Director

New York, NY

(212) 855-0124

$162.3bn discretionary (6/30/19)

Email link

 

     

33

Hall Capital Partners

Sarah Stein, Managing Partner

Alison Bowe Diessner, Principal

San Francisco, CA

(415) 277-2634

(415) 217-2494

$34.3bn

$9.4bn discretionary (3-31-18)

Email link

Email link

 

 

 

 

34

Highland Associates

Paige Daniel, Mgn Dir

Birmingham, AL

(205) 939-8308

$27bn total

$10.5bn discretionary (3/31/19)

Email link

 

     

35

Hirtle Callaghan

Erica Evans, Head of Client Engagement

W. Conshohocken, PA

(610) 943-4100

$21.1bn (3-31-19)

Email link

 

 

 

 

36

Holt Capital Partners

Robert M. Holt, Jr., Managing Partner

Fort Worth, TX

(817) 877-1430

$300mil (6-30-19)

Email link

 

 

 

 

37

Investure

Puja Seam, COO

Charlottesville, VA (434) 220-0280

$13.2bn discretionary (5-31-19)

Email link

 

 

 

 

38

J.P. Morgan Asset & Wealth Management

Monica Issar, Global Head of Multi-Asset & Portfolio Solutions

New York, NY

(212) 464-2852

$3trillion (6-30-19)

$70bn OCIO discretionary (6/30/19)

Email link

 

     

39

LCG Associates

Lauren Moore, VP Mrktg

Atlanta, GA

(770) 644-0100

$104.5bn advisory (3-31-19)

$702mil discretionary (3-31-19)

Email link

 

 

 

 

40

Lowe, Brockenbrough & Co. (Bespoke Strategies)

Christopher Dion, MD & CIO

Richmond, VA

(804) 287-2744

$2.9bn total

$1.3bn institutional discretion (12-31-18)

Email link

 

 

 

 

41

Makena

Joseph Magher, Mgn Dir

Menlo Park, CA

(650) 926-1339

$19.5bn (6-30-19)

Email link

 

 

 

 

42

Mangham Associates

Edward W. Karppi, Partner, Co-Chief Investment Officer

Joel Streeter, VP

Charlottesville, VA

(434) 973-2223

$1.7bn (6-30-19)

Email link

Email link

 

 

 

 

43

Marquette Associates

Doug Oest, Mgn Partner

Chicago, IL

(312) 527-5500

$179bn advisory

$5.1bn discretionary (12-31-18)

Email link

 

     

44

Meketa Fiduciary Mgmt

Chaunice Peebles, Consultant

San Diego, CA

(760) 795-3455

$1.4 trillion advisory

$15.7bn discretionary (6-30-19)

Email link

 

 

 

 

45

Mercer

Rich Joseph, US delegated solutions leader

Boston, MA

(617) 747-9540

$10.2trillion advisory

$282bn delegated global AUM (6-30-19)

Email link

 

     

46

Mill Creek Capital Advisors

Josh Gross, CEO

Conshohocken, PA

(610) 941-7714

$6.4bn total

$5.9bn discretionary (6/30/19)

Email link

 

     

47

Morgan Creek Capital Mgmt

Mark Yusko, CEO & CIO

Chapel Hill, NC

(919) 933-4004

$1.6bn discretionary (6-30-19)

Email link

 

 

 

 

48

Morgan Stanley/Graystone

Robert Mandel, Exec Dir

Suzanne Lindquist, Exec Dir

New York, NY

(914) 225-5420

(212) 296-1064  

$32bn OCIO discretionary (6-30-19)

Email link

Email link

 

     

49

Multilateral Endowment Mgmt Co. (“MEMCO”)

Ryan S. Tidwell, CIO

Edmond, OK

(405) 385-5171 

$1bn discretionary (9-1-19)

Email link

 

     

50

NEPC

Steve F. Charlton, CFA, Director consulting services

Boston, MA

(617) 374-1300

$1.02trillion advisory

$27.2bn discretionary (6-30-19)

Email link

 

 

 

 

51

New Providence Asset Mgmt

Sarah Withers, Assoc. Dir

New York, NY

(646) 292-1272

$2.5bn discretionary (6-30-19)

Email link

 

     

52

Northern Trust

Joseph McInerney,

Managing Executive

Chicago, IL

(312) 444-7336

$116bn

$76.8bn discretionary (6-30-19)

Email link

 

     

53

Partners Capital

Paul Dimitruk, Chair, Partner

Leslie Ahlstrand, Principal

Boston, MA & UK

(617) 292-2575

(617) 778-7046

$25.1bn total (3-31-19)

Email link

Email link

 

     

54

Pentegra Investors Inc.

Sarah Lange, MD, Institutional Investment Solutions

White Plains, NY

(914) 821-9563

$13bn total discretionary (6-30-19)

Email link

 

 

 

 

55

Permanens Capital

Tom Butler, Partner

New York, NY

(212) 993-7447

$3.2bn discretionary (6-30-19)

Email link

 

     

56

Permit Capital Advisors

Mimi Drake, Co-CEO

Bill Curran, Portfolio Manager

West Conshohocken, PA

(610) 940-5331

$1.2bn discretionary (6-30-19)

Email link

Email link

 

 

 

 

57

PFM Asset Mgmt

John Spagnola, Mgn Dir

Philadelphia, PA

(215) 557-1220

$6.7bn advisory

$12.6bn discretionary (6-30-19)

Email link

 

 

 

 

58

PNC Bank

Deborah A. Kolsovsky, EVP & MD Institutional Advisory Solutions

Scranton, PA

(570) 961-6868

$26.4bn discretionary AUM (3-31-19)

Email link

 

 

 

 

59

Regions Asset Mgmt

S. Alan McKnight, Jr., CIO

Birmingham, AL

(205) 264-6621

$87.3 advisory

$33.1bn discretionary (3/31/19)

Email link

 

 

 

 

60

Rockefeller Capital Mgmt

Grace Yoon, MD

New York, NY

 (212) 549-5392

$34.8bn total

$15.8bn discretionary (6/30/19)

Email link

 

     

61

Russell Investments

Eric Macy, Mgn Dir

New York, NY

(212) 702-7941

$2.37trillion advisory (12-31-18)

$152.4bn discretionary (6-30-19)

Email link

 

 

 

 

62

Segal Marco Advisors

TJ Kistner, VP, Head of Discretionary Portfolio Management & Solutions

Chicago, IL

(312) 612-8493

$11.5bn discretionary (6-30-19)

Email link

 

     

63

SEI Institutional Group

Michael Cagnina, SVP, MD

Oaks, PA

(610) 676-1496

183bn total discretionary (6/30/19)

Email link

 

     

64

Seven Bridges Advisors

M. Ram Lee, Partner

New York, NY

(212) 490-6320

$5bn total (12-31-18)

Email link

 

 

 

 

65

Silvercrest AM

Chris Long, MD

New York, NY

(212) 649-0697

$20.8bn total (3-31-19)

$15.3bn discretionary

Email link

 

     

66

Spider Management Co.

Rob Blandford, President, CIO

Richmond, VA

(804) 289-6010

$4.6bn discretionary (3-31-19)

Email link

 

 

 

 

67

State Street Global Advisors

David Wiederecht, EVP, Head of OCIO

Stamford, CT

(203) 326-2376 

$123.7 discretionary (6/30/19)

Email link

 

     

68

Strategic Investment Group

Nikki Kraus, MD, Client dev

Arlington, VA

(703) 243-4433

$26.1bn total

$24.9bn discretionary (6-30-19)

Email link

 

 

 

 

69

SunTrust Bank

Elizabeth Cabell Jennings, SVP, Dir Institutional Invest Fdns, Edns Practice

Atlanta, GA

(404) 813-1538

Richmond, VA

$12.9bn discretionary (3-31-19)

Email link

 

     

70

TIAA Endowment & Philanthropic Services

Michael Murray, Head of Distribution

Chris Kohler, Consultant Relations

Boston, MA

 

(847) 305-6089 

(814) 360-1500

$11.5bn discretionary (6-30-19)

Email link

Email link

 

 

 

 

71

TIFF Investment Mgmt

Pat Torrey, Mgn Director

Radnor, PA

(610) 684-8201

$8bn discretionary (3/31/19)

Email link

 

 

 

 

72

Truvvo Partners

Casey D. Whalen, CEO & CIO

Roundtable successor

New York, NY

(212) 488-5485

$4bn total (6-30-19)

Email link

 

     

73

UBS AG

Andrea Fisher, head Americas Mohammad Ahmad, Head, Business Development,

Michael Walsh, EMEA

Calvin Kim, APAC

Chicago, IL

(212) 882-5147

41 79 629 48 29

$15.8bn OCIO mandates (12-31-18)

Email link

Email link

Email link

Email link

 

 

 

 

74

Bank of America

Bernard Reidy, National Philanthropic Sales Executive

New York, NY

(203) 571-5341

$30.6bn discretionary (3-31-19)

Email link

 

 

 

 

75

Vanguard

Christopher Philips, Head of Institutional Advisory Services

Malvern, PA

(610) 503-1089

$50bn discretionary (6-30-19)

Email link

 

 

 

 

76

Verger Capital Management

Patrick Decker, Mgn Dir

Wesley Carroccio, Mgn Dir

Winston-Salem, NC

(336) 758-4240

$1.7bn discretionary (3-31-19)

Email link

Email link

 

     

77

Verus Investments

Shelly J. Heier, Pres & COO

Seattle, WA

(206) 622-3700

$415.7bn advisory

$3.7bn discretionary (6-30-19)

Email link

 

     

78

Wealth Strategist Partners

Susan K Lucas, COO

Chicago, Il

(312) 863-6082

$1bn total (6-30-19)

Email link

 

 

 

 

79

Wells Fargo – Institutional Asset Advisors

Rob Kent, VP national sales dir

(Acquired by Principal Financial Grp 2019)

Overland Park, KS

(913) 234-2929

$23bn discretionary (6/30/19)

Email link

 

 

 

 

80

Wespath Institutional Investments

T. Joseph Halwax, MD Institutional Services

Glenview, IL

(847) 866-4307

$3.8bn discretionary (6/30/19)

Email link

 

 

 

 

81

Willis Towers Watson

Kemp Ross, Global Head of Delegated

Debra Woida, Head, Delegated Investment Services, Americas

Pieter Steyn, EMEA head Delegated Investment Services

Chicago, IL

(312) 525-2436

(312) 525-2336

 

44 (0) 207 170 2714

$134bn discretionary (3/31/19)

Email link

Email link

Email link

 

 

 

 

82

Wilshire Associates

Kristofer T. Kelleher, Managing Director

Pittsburgh, PA

(412) 434-1602

$1trillion advisory 

$65.5bn discretionary (3/31/19)

Email link

 

     

83

Worth Venture Partners

David Wertentheil, Partner

New York, NY

(212) 558-9017

$300mil discretionary (6-30-19)

Email link

 

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The Skorina Letter

Each issue explores how the world’s most accomplished asset managers think and invest.  Original content includes profiles and interviews with industry veterans and research on compensation and investment performance.

Our insights and commentary come from our clients – board members, CEOs, chief investment officers – and the global investment community within which we work as executive search professionals.

Institutional investors operate at the crossroads of capital, talent, and ideas, shepherding over seventy trillion dollars in global assets.  It’s a constantly evolving spectacle and The Skorina Letter gives readers a ringside seat.

Prior issues can be found in “archives” on our website

————————————————–

Charles Skorina & Company
Our services: recruit chief investment officers, advise on performance and pay
Our clients: board members, family offices, and institutional asset managers

Office: (520) 529-5677

eMail: skorina@charlesskorina.com

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News, Interviews, Research for Institutional and Family Office Investors

Prior:

JPMorganChase – Credit and risk management

Ernst & Young – Systems and process consulting

US Army – Russian Linguist, Japan

University of Chicago, MBA, Finance

Michigan State University &

Middlebury Institute of International Studies at Monterey

Culver Academies

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