Home > News > Corporate Moves > Acting CIO of South Korean Retirement Plan Leaves
Corporate Moves

Acting CIO of South Korean Retirement Plan Leaves

Cho In-Sik departs amid search for permanent successor at No. 3 biggest public pension program.

By Chris Butera

Cho In-Sik



The acting chief investment officer for the world’s third-largest public pension fund has resigned.

Cho In-Sik, head of the $559.6 billion National Pension Service’s global market division, had been temporarily helming the South Korean fund after the sudden departure of former CIO Kang Myoun-Wook last July. Kang was only seven months into his two-year contract, and quit after the state-run retirement system cancelled its global alternative investment head appointment.

Cho leaves as the fund restarts its CIO search, leaving the Korean pension plan with no head. While the reason for his resignation is unknown, according to The Korea Times and Korean Investor, it is believed that the departure relates to an internal audit regarding the pension service’s support of a controversial 2015 merger between Samsung C&T and Cheil Industries.

The National Pension Service now has four executive roles up for grabs, including Cho’s global market’s division role. Chae Jun-Kyu, the plan’s domestic equity division head, also lost his job last week as he allegedly created the report supporting the merger, the Korean news outlets report. Kim Jong-Hee, head of domestic fixed-income, is taking on Chae’s responsibilities in the interim.

Never miss a story — sign up for CIO newsletters to stay up-to-date on the latest institutional investment industry news.

In addition, the global alternative division is also searching for a head. Choe Hyung-don is serving in the role for now.

Cho’s exit is the latest in a flock of resignations throughout the fund. Last year, 27 fund managers quit, after 30 left in 2016. The National Pension Service planned to hire 38 professionals in the first half of this year, but instead added 20.

The fund returned 7.28% in 2017.

Tags: , , ,

Home > News > Corporate Moves > University of Pittsburgh Names New CIO, Treasurer
Corporate Moves

University of Pittsburgh Names New CIO, Treasurer

Greg Schuler will oversee the nearly $4 billion endowment.

By Michael Katz



The University of Pittsburgh’s board of trustees has named Greg Schuler as the university’s new CIO. Schuler, who will oversee investment and management of the university’s nearly $4 billion consolidated endowment, replaces Amy Marsh, Pitt’s former CIO and treasurer, who retired March 31.

Schuler will be responsible for developing investment guidelines and performance objectives in collaboration with the board’s investment committee. He will also supervise all portfolio construction, manager selection, and risk management, as well as adherence to investment policies.

Schuler joins Pitt from St. Louis-based nonprofit BJC HealthCare, where he served as CIO and treasurer since 2011. He managed investment activities covering $8 billion in assets, and oversaw treasury activities related to debt, derivatives, and cash management.

“Greg is arriving at an exciting time in the University of Pittsburgh’s history,” University of Pittsburgh Chancellor Patrick Gallagher said in a release. “I am confident that he will excel as our next chief investment officer and eager to watch him leverage his leadership and expertise to spur growth at Pitt for decades to come.”

Never miss a story — sign up for CIO newsletters to stay up-to-date on the latest institutional investment industry news.

Schuler earned a master of business administration and a bachelor of commerce degree from the University of British Columbia, and he also holds a chartered financial analyst (CFA) designation.

The university also named Paul Lawrence as its new treasurer. Lawrence has served as Pitt’s managing director of investments since 1999, and as assistant treasurer since 2000. He earned a master of business administration from Pitt, and a bachelor of science in finance from The Pennsylvania State University. He also holds a CFA designation.

As Treasurer, Lawrence will oversee the university’s treasury operations as well as the management and investment of cash funds, securities, and other assets excluding the endowment. He will also closely manage the university’s working capital with the goal of serving and supporting the institution’s mission and strategic priorities.

Tags: , , ,

«