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Mexico’s MIT Seeks CIO

Monterrey Institute of Technology and Higher Education is looking for an investment chief to help it create a ‘world class investment portfolio.’

By Michael Katz



The Monterrey Institute of Technology and Higher Education, based in Monterrey, Mexico, has posted a job ad for a new CIO. According to the posting, the private university system is seeking an institutional investment professional with experience at a U.S. endowment, foundation or pension fund.

“The mission is to build out a fully diversified world class investment portfolio,” says the job posting.

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The position, which pays between $150,000 and $200,000 a year, will be based at the university’s flagship campus in Monterrey. Despite being based in Mexico, the university does not require that candidates have the ability to speak Spanish, per the posting, as everyone in the administration speaks English.

The posting also says the university is looking for candidates with a minimum of 10 years of experience as a senior investor on an institutional asset management platform, such as at an endowment, foundation or public pension, or as an outsourced CIO. It is also seeking candidates with experience investing in multiple asset classes who demonstrate “leadership skills managing investment staff with an emphasis on team building, development, motivation, retention and commitment to diversity and inclusion.”

Candidates are also expected to have a network of investment managers and an ability to access those resources for sourcing, manager evaluation and reference-checking purposes. The posting also notes that strong academic credentials are required, and that an MBA, CFA, or CAIA is preferred.

The Monterrey Institute of Technology and Higher Education system has 25 campuses throughout Mexico, with 60,000 undergrads, 94,000 total students and 10,000 faculty members.

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Home > News > Risk > Consumer Confidence Falls—and So Do Stocks
Risk

Consumer Confidence Falls—and So Do Stocks

The S&P 500 reverses its recent rise, as the Conference Board report chills investors.

By Larry Light

As recession talk and high inflation persist, consumer confidence has taken another slide, descending 4.5 points in June to 98.7, a 16-month low. (The baseline is 100, set in 1985.) This development helped prompt a reversal in the stock market’s recent upward momentum, with the S&P 500 falling 2% on Tuesday.

The dip in the Conference Board’s Consumer Confidence Index, released Tuesday morning, could augur coming economic pain, in the eyes of numerous strategists. After all, gross domestic product decreased 1.5% in this year’s first quarter, and some fear that the second period will also be negative—with a two-quarter descent the common (albeit not official) sign of a recession.

“Right now, we are at an inflection point in the economy, where actual spending and economic activity are still positive,” wrote Chris Zaccarelli, CIO for Independent Advisor Alliance, in a research note. “However, consumer confidence and financial conditions (especially interest rates) are indicating a slowdown ahead.”

The Conference Board’s survey, and a recent one from the University of Michigan showing much the same thing, are disquieting signals. “Both reports underscore that the all-important U.S. consumer is responding to the slowdown in the economy coupled with still higher prices,” said Quincy Krosby, chief equity strategist for LPL Financial, in a note.

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To some, the confidence slump may be an overreaction, although they add that the pessimism may feed upon itself. “The persistent weakness in confidence surveys suggests a recessionary environment can become self-fulfilling,” John Lynch, CIO for Comerica Wealth Management, warned in a note. He evoked a character from “Seinfeld,” adding, “Perhaps we should call it the ‘George Costanza Recession’–if you believe it, Jerry, it’s not a lie!”

To be sure, not all the data are flashing red. The S&P CoreLogic Case-Shiller Index, also out Tuesday, showed that home prices still were higher, but their acceleration slowed a bit—and the data are from April.

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