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Manager Selection

International Paper Promotes Tusch to Oversee Pension and Savings Plans

Current Deputy CIO Carol Tusch is replacing Bob Hunkeler, who will retire at the end of the quarter after leading the investment office of International Paper for 26 years.
By Dusty Hagedorn

The $16 billion defined contribution and defined benefit plans of International Paper will have a new leader come the end of March.

Carol Tusch, currently the company’s deputy CIO, will take over the role of vice president of investments, overseeing International Paper’s pension plan, savings and other plan assets, when current vice president of investments Bob Hunkeler retires at the end of the quarter.

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Tusch has been with International Paper since 1999 and has served as director of trust investments before her time as deputy CIO. Prior to her tenure at International Paper, Tusch was a senior portfolio manager at the Verizon Investment Company for 16 years, where she managed more than $1 billion in private market investments within the firm’s U.S pension fund.

Tusch graduated from Fairfield University with a B.S. in finance, holds an MBA from the University of Connecticut and attended executive education courses at the Yale School of Management, focused on women on boards.

Tusch will report to Tim Nicholls, senior vice president and chief financial officer, and will remain with the company’s investment team in Stamford, Connecticut.

Hunkeler, a recognized thought leader and active contributor within the institutional investment community, will continue as a board member of CIEBA, the Committee on Investment of Employee Benefit Assets, which he once chaired.

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Home > News > Manager Selection > Pitcairn Family Office Names Sonnenberg as New CIO
Manager Selection

Pitcairn Family Office Names Sonnenberg as New CIO

Former CIO Rick Pitcairn moves into a newly created global strategy role.
By Michael Katz

 

 


Family office Pitcairn, which caters to ultra-high-net-worth families, announced Nathan Sonnenberg as its new CIO. He succeeds Rick Pitcairn, who will take on the newly created role of chief global strategist after serving nearly 15 years in the position. 

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Sonnenberg is responsible for Pitcairn’s investment platform strategy and developing and communicating investment strategy and policies. He also directs analysis, portfolio management, research and risk management. According to the announcement, he will focus on day-to-day management of the investment team, along with building the firm’s long-term capital framework and finding new investments within private markets.

Meanwhile, Rick Pitcairn now oversees the development of the family office’s thought leadership on macro-economic trends, as well as opportunities and new initiatives to increase business growth. He is tasked with leading the firm’s global growth strategy, working directly with clients and producing original research and insights on macroeconomic trends for clients and the media. Both will report to Leslie Voth, Pitcairn’s chair, CEO and president.

“I am looking forward to working closely with Nathan, and [I] continue to support our client families,” Pitcairn said in a release. “Having worked with Nathan for the past several years, I know that he is not only a smart and highly experienced investment professional, but he also shares our values and commitment to doing what’s best for our clients.”

Prior to Pitcairn, Sonnenberg was founder of Vienna, Virginia-based outsourced-CIO consultancy Wealth Management Consulting. He has also served as director of investments for Wells Fargo’s Abbot Downing—now called Wells Fargo Private Bank—and before that, he was CIO at financial services firm Fortigent.

“I want to thank Leslie and Rick for this incredible opportunity,” Sonnenberg said. “Over my many years working with Pitcairn, I have seen firsthand how they deliver personalized portfolios for every client family.”

Sonnenberg has been named to Pitcairn’s leadership team and investment policy committee, will be based in Washington, D.C. and will build out a capital-region team. He will also spend time in the firm’s Jenkintown, Pennsylvania, headquarters.

According to the firm, the hiring of Sonnenberg and new role creation for Rick Pitcairn is part of the family office’s plans to expand its client base and investment offerings. Pitcairn, which was founded in 1923 as the family office for the Pitcairn family, has more than 100 families as clients.

“These moves build on our decades of investment excellence and will ensure that our ultra-high-net-worth clients continue to receive the trusted investment counsel and sophisticated opportunities they deserve,” said Voth in the release.

 

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