Hirtle Callaghan Hires First CIO

Outsourced CIO firm hires Mark Hamilton to newly created role.

Mark Hamilton 


Investment firm Hirtle Callaghan has named Mark Hamilton as its chief investment officer (CIO), effective immediately. It is the first time the company, which refers to itself as America’s first outsourced chief investment officer, has had a CIO. 

Hamilton, who will report to Hirtle Callaghan CEO Ranji Nagaswami, will be responsible for the firm’s entire investment program, and will also chair the company’s investment policy committee. He has nearly 25 years of investment experience, with a concentration in capital allocation globally, across various asset classes and alternative strategies.

Hamilton most recently worked at OppenheimerFunds, where he was the CIO of asset allocation since 2013, and led a team of 20 investors managing approximately $12 billion. Prior to that, Hamilton was at AllianceBernstein for nearly 20 years, and in his last role was investment director of the dynamic asset allocation portfolio management team.

“The addition of an industry veteran of Mark’s caliber further deepens and complements our talent bench; we are thrilled to have him lead our investment team,” said Nagaswami in a release. “In markets that are more complex than ever before, we have assembled an incredibly talented team to serve our clients with the strongest investment capabilities in the industry.”

Want the latest institutional investment industry
news and insights? Sign up for CIO newsletters.

In January, the company named Daniel McCollum, who joined from Brown University, as deputy CIO overseeing alternative investments. The investment team leadership includes Brad Conger, deputy CIO for public markets, and Scott Jacobson, director and senior strategist responsible for risk management. 

Hamilton holds a master’s degree in finance and applied economics from the Sloan School at the Massachusetts Institute of Technology, and a B.A. in international relations from the University of Southern California, Los Angeles.

Tags: , ,

SEC Hits Founder of Fintech Start-Up Mozido with Major Fraud Filing

Liberty had been released from federal prison in January following campaign contribution activities.

A fintech startup founder is in hot water again as the Securities and Exchange Commission (SEC) has charged him with fraud for baiting investors into funding shell companies instead of the startup they had been promised.

Filed in Portland, Maine, last month by the SEC, the 66-page complaint alleges that the fintech start-up Mozido’s Michael Liberty, his wife, Brittany Liberty, his cousin, Richard Liberty, Paul Hess, and attorney George Marcus convinced 200 investors to put a combined $55 million into unregistered interests in shell companies Michael had owned. Although Michael had told investors the shell companies had owned transferable interests in Mozido, the shell companies were either not allowed to transfer interests in Mozido or did not own any interests in the Austin-based mobile payments startup.

The SEC alleges the 57-year-old founder used the funds for private jet flights, luxury homes and cars, a dairy farm, and a movie his wife was producing before they were married.

According to the complaint, Liberty and his accomplices “lied to investors about Mozido’s valuation and finances, the amount Michael Liberty had personally invested in Mozido, and the use of their funds.”

Mizodo, which Liberty had once claimed was worth more than $100 billion, offers white-label, cloud-based mobile payments across all industries which include financial institutions.

The filing charges the lot with violating anti-fraud and registration provisions of federal securities laws, specifically Section 17(a) of the Securities Act of 1933 (“Securities Act”), Section 10(b) of the Securities Exchange Act of 1934 (“Exchange Act”), and Rule 10b-5. A majority of the group also violated Sections 5(a) and 5(c) of the Securities Act while Hess and Richard have been charged with violating Section 15(a) of the Exchange Act.

Michael Liberty has been hit with SEC charges as early as 2006, when the Commission accused him and accomplices of partaking in a $9 million fraud plot with a Philadelphia-based venture capital fund and its investors. In November 2016, Liberty was convicted for making illegal campaign contributions. He was released from federal prison in January.

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

Tags: , , ,

«