Gregory Fox

Greg is a partner on AIUSA’s client service team. He is responsible for leading consulting relationships, including advisory and OCIO relationships with public and corporate defined benefit and defined contribution plan sponsors.

In the defined contribution space, Greg is the head of Aon’s retirement income solutions group and a senior member of the firm’s research efforts for DC multi-asset solutions. He is a voting member of the advisory committee responsible for multi-asset decisions on behalf of Aon’s DC OCIO clients. Greg is also a subject-matter expert on pension annuity purchases for defined benefit plan terminations or lift-outs. He leads the firm’s efforts in investment management fee benchmarking and analytics and has strong background in fiduciary governance.

CIO: What do you think will be the biggest innovation in the institutional asset allocation industry in the next 10 years?

Fox: I’m hopeful that the biggest innovation in the institutional asset allocation industry in the next 10 years will be a giant leap forward in the evolution of personalized solutions for saving, investing and generating retirement income within defined contribution plans. In particular, I think the ways that personal data can be collected and aggregated from various sources will improve dramatically, making it far easier for the average investor to access comprehensive retirement planning and customized portfolios. Much like our smartphones and computers take advantage of our browsing and social media activity to optimize targeted advertisements, I envision a world where personalized retirement solutions are able to aggregate banking information, Social Security elections, monthly expenditures, real estate appraisals, risk tolerances and more with little to no active engagement from participants. This innovation will require great care, especially with respect to cybersecurity and data privacy, but it would have a significant impact on the financial well-being of millions of current and future retirees. Continued enhancements in technology will also result in more efficient analyses of aggregated data, which then translates into better (and more affordable) personalized portfolios for individuals and, ultimately, improved outcomes.

CIO: What issues do you expect to dominate financial decisionmaking and the economy in the next 18 months to three years?

Fox: I expect that the single issue that will dominate financial decisionmaking and the economy in the coming years is the role/impact of artificial intelligence. Predictive AI is transforming various aspects of finance and economics. Enhanced pattern recognition capabilities are revolutionizing the way we analyze data, trade, manage risk, optimize portfolios, identify fraud and serve customers. Generative AI is also transforming the way that we communicate and the way our businesses approach improvements in productivity. Most people should not fear being replaced in their jobs by AI, but they should definitely fear being replaced by other people who are able to skillfully collaborate with AI tools. The widespread adoption of this technology will impact the entire structure and dynamics of the global economy, changing the nature and demands of work and requiring new skills and competencies for workers and consumers. The energy, infrastructure and technology required to support the mass deployment of artificial intelligence will also rapidly and dramatically change the global economy. While it may seem impossible to avoid this topic lately, I suspect that we’re only seeing the very tip of the AI iceberg right now.

CIO: What actionable thing have you learned over the course of your career that has proven itself this year?

Fox: One of the most valuable career lessons that I can offer is to strive to be a hand-raiser, and I mean that in a couple ways. Over the course of my career, I’ve often raised my hand for various projects and extracurriculars that were above-and-beyond my core responsibilities. With few exceptions, those raised hands led to me offering time and enthusiasm in exchange for training, knowledge and invaluable experience. It also led to an ever-expanding network of experts and mentors. Another context in which I think it’s important to be a hand-raiser is when you have a question. Don’t be shy! I find that people can be reluctant to ask questions because they’re afraid of being judged for not already understanding something. Often times others are wondering the same things but afraid to ask clarifying questions for the same reasons. The instinct to volunteer myself for new and different things and to ask questions when I’m curious or don’t understand something has served me incredibly well. I continue to seek out new areas to trade my enthusiasm for experience but am also fortunate enough now to be answering questions for the next generation of hand-raisers too.

The opinions referenced are as of the date of publication and are subject to change due to changes in the market or economic conditions and may not necessarily come to pass. Information contained herein is for informational purposes only and should not be considered investment advice.