Ash Williams Named CIO of the Year at Innovation Awards Gala

Robin Diamonte receives Lifetime Achievement Award as enthusiastic crowd of 340, including 113 asset owners, applauds the prowess of vibrant leaders.

Robin Diamonte receives Lifetime Achievement Award as enthusiastic crowd of 340, including 113 asset owners, applauds the prowess of vibrant leaders.

Ash Williams, chief investment officer and executive director of the Florida State Board of Administration (SBA), received the CIO of the Year Award at CIO’s 10th annual Industry Innovation Awards on Thursday evening.

The enthusiastic crowd of 340 leapt to its feet twice for Williams, who received the honor at the awards gala at the sumptuous New York Public Library.  The award was bestowed by last year’s winner, Chris Ailman, CIO of California State Teachers’ Retirement System (CalSTRS).

Williams drew humorous parallels between his work and riding his beloved motorcycle. “Google the word ‘gentleman,’ and his picture shows up,” Ailman said. Williams received the CIO Lifetime Achievement Award two years ago.

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Robin Diamonte, one of the nation’s most dynamic CIOs, was presented with this year’s Lifetime Achievement Award, as her peers and other financial services notables also gave her a standing ovation.  “I’ve learned to be both demanding and empathetic at the same time,” she said.

The presentation to Diamonte, corporate vice president and chief investment officer of UTC, She was introduced by Thomas Britton “Britt” Harris IV, CIO of the University of the Texas Investment Management Company (UTIMCO), who regaled the audience with tales of her drive and big heart.

In addition, Elizabeth Jourdan, deputy CIO at Mercy Hospital in St. Louis, was voted NextGen of the Year. Scott Williamson, head of the BlackRock iShares US Asset Owner business development team, gave the award to Jourdan.

The selection was made after concluding a six-member hotseat panel of finalists for the honor. The grilling at CIO’s Influential Investors Forum at the Harvard Club was moderated by Chad Myrhe, director of investment at the Heinz Family Office, and last year’s winner. The audience of more than 100 asset allocators was polled.

Other winners are as follows:

CHIEF INVESTMENT OFFICERS

Collaboration 

Charles Van Vleet (Textron)

Corporate Defined Benefit Plan Below $20 Billion

 Jonathan Glidden (Delta Air Lines)

Corporate Defined Benefit Plan Above $20 Billion 

Rob Sparling (Dow Chemical)

Defined Contribution Plan 

Mark Fawcett  (NEST)

Endowment 

Mark Baumgartner (Institute for Advanced Study)

ESG 

Ben Meng  (CalPERS)

Foundation

 Joel Wittenberg (W.K. Kellogg Foundation)

Health Care Organization

 Leslie Lenzo (Advocate Aurora Health)

Public Defined Benefit Below $20 Billion 

Elizabeth Burton (Hawaii Employees Retirement System)

Public Defined Benefit Between $20-100 Billion

 Jim Grossman (PA PSERS)

Public Defined Benefit Above $100 Billion 

Ash Williams (Florida State Board of Investment)

Risk Management 

Vincent Morin (Air Canada)

Sovereign Wealth Fund 

Marcus Frampton (Alaska Permanent Fund)


ASSET MANAGEMENT/SERVICING WINNERS

Consultant of the Year 

Nolan Bean (Fund Evaluation Group)

Corporate Strategies

NISA

Data Tech

Solovis

Defined Contribution

State Street Global Advisors

Emerging Markets

UBS Asset Management

ESG

Breckinridge Capital Advisors

Fixed Income

Beach Point Capital Management

Hedge Fund

Bridgewater Associates

Multi-Asset

Bridgewater

OCIO

Partners Capital

Private Credit

Owl Rock Capital Group,

Private Equity

Redbird Capital Partners

Public Equity

Ariel Investments

Real Assets

Actis Capital

Transition Management

BlackRock

Hashtags for the Thursday events: #2019CIOInnovationAwards and #2019CIOInfluentialInvestorsForum

Related stories:

2019 Industry Innovation Awards

Top CIO Finalists and Managers Announced for December 12 Innovation Awards Gala

In Crowd of more than 300, 105 Leading Asset Owners Celebrate Nominees during CIO Innovation Awards

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Investments in Fintech Hit Record High in Q3

Investments in firms are led by Asia, with China and India head to head for top spot in region. 


Global investments in financial technology firms hit their highest quarterly record to date, clocking in $8.9 billion in Q3 2019, according to the Q3 2019 Global Fintech Report from CB Insights. The year-to-date count of $24.6 billion already surpasses 2017’s annual total of $18.8 billion.

Early-stage transactions fell to an 11-quarter low and funding hit a seven-quarter low, contributing to the lower overall funding by aggregate annual data. CB Insights expects that this year’s deal total won’t top 2018, which saw nearly 2,000 deals and $40.6 billion in investments.

Asian markets helped propel this year’s growth, with China and India head-to-head for the top spot in the region. India raked in 33 deals totaling $674 million in total funding, while China had 55 deals totaling $661 million.

Southeast Asia reached new highs as well, setting an annual record with $701 million raised across 87 deals in the third quarter. The United States, however, experienced a slight pull-back in early-stage deals.

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Many institutional investors are pouring money into private equity deals as a whole, since their returns are amongst the highest in many portfolios. The California Public Employees’ Retirement System is struggling to keep up with its private equity pacing plan, and must to increase its commitments on a steady basis to meet its 8% target allocation to the asset class, according to its consultant Meketa.

Private equity firms have been under fire from politicians lately for its “predatory behaviors impacting investors.” Massachusetts Sen. Elizabeth Warren introduced legislation that would publicize their fees and returns, and likened them to vampires “bleeding the company [they acquire] dry and walking away enriched even as the company succumbs…Costing thousands of people their jobs, putting valuable companies out of business, and hurting communities across the country.”

Related Stories:

Negative Sentiment Toward Private Equity Firms’ ‘Predatory’ Behaviors Impacting Investors


CalPERS Falling Short of Private Equity Goals


Venture Capital Deals Set Record for 5th Straight Year

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