Michael Hughes Appointed to Lead Portfolio Management at Verus

Michael Hughes

Updated with correction.

Investment consulting firm Verus Advisory Inc. has announced the appointment of Michael Hughes as managing director of portfolio management. Hughes will lead the investment management efforts for the firm’s outsourced CIO business.

Hughes will partner with CIO Ian Toner and the firm’s strategic research team to address client needs through determining strategic, structural and tactical investment views; selecting managers; and ensuring effective implementation of strategies.

“Both Mike’s leadership skills and capital markets expertise will be extraordinarily additive to Verus,” said Jeffrey MacLean, CEO of Verus, in a statement. “With an extensive 35-year career in investment management, Mike brings a wealth of experience in leading investment teams, guiding strategy development, and conducting thorough manager due diligence. We are delighted to have him join the Verus team.”

Previously, Hughes was a vice president and senior portfolio manager at Northern Trust Asset Management. He was also previously CIO of Cornerstone Advisors and director of portfolio services and chief fixed-income strategist at Perkins Coie LLP.

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“I’m excited to join a dynamic industry leader like Verus that is fully committed to cultivating its burgeoning OCIO business, as client needs in that area continue to flourish,” Hughes said in a statement.

Hughes earned a bachelor of science degree from the University of Colorado, Boulder and an MBA from the USC Marshall School of Business.

Verus also made several recent shifts after Shelly Heier, its president, stepped down in September to join Russell Investments. Kraig McCoy, its chief financial officer and chief operating officer, was promoted to president (while retaining the CFO title) and will share Heier’s duties with MacLean.