Cedars-Sinai Names Pasy Wang as First CIO

Pasy Wang has been named the first CIO for Southern California-based nonprofit academic health care organization Cedars-Sinai, according to a press release.

In the newly created role, Wang will design and manage Cedars-Sinai’s investment portfolio, and will lead the newly created investment office with a mandate to oversee investment policy, asset allocation, portfolio construction, risk management and external investment managers.

Wang joins Cedars-Sinai from the California Institute of Technology, where she was senior managing director of investments for nearly 13 years. The university’s endowment tripled in size to $4.5 billion from $1.5 billion during her tenure.

Pasy Wang

While at CalTech, Wang led the investment team in portfolio management and oversaw all asset classes and direct investments. She also created a formal investment process, instituted a risk-management system and built out the institute’s portfolio, according to the release.

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“Pasy Wang has a well-earned reputation for helping secure the future for nonprofit organizations,” David Wrigley, Cedars-Sinai’s executive vice president and chief financial officer, said in a statement. “Her business acumen, integrity and collaborative style of work will be an asset to Cedars-Sinai.”

Prior to joining CalTech, Wang was an associate director at Pacific Alternative Asset Management Company, where she co-managed a portfolio of opportunistic hedge funds and specialized in event-driven, distressed debt and credit hedge funds. She also researched and recommended hedge funds for the flagship fund of hedge funds among all strategies, and performed due diligence on hedge funds. She started her career as a consultant at Deloitte Consulting, according to her LinkedIn.

Wang received a bachelor’s degree in electrical engineering from the University of California, Los Angeles and an MBA in finance from Columbia Business School. She has also received the Chartered Financial Analyst designation, and is currently a director on the boards of American Business Bank, the Boys & Girls Club of Venice and the Levitt Foundation.

“I’m excited to join another amazing, mission-driven organization and to work on securing the future of Cedars-Sinai for generations to come,” Wang said in a statement.

Wang’s hiring leaves an opening at CalTech, which is looking for a senior investment analyst to perform portfolio analysis, management and monitoring of existing investments. The job also includes conducting quantitative and qualitative due diligence of potential investments and performing investment research across the global public markets and alternative strategies, according to the job posting. The university is also looking for an investment analyst to assist in portfolio analysis, monitoring and reporting across the public, private and alternative markets.