University of California Appoints Former Tata Group Chairman

Ratan Tata, senior advisor, UC Office of the CIORatan Tata, the former chairman of Indian conglomerate Tata Group, is to take up a senior advisor role at the University of California’s (UC) investment office.

Tata, who starts his role on December 1, will advise on international policy, including Asian and Indian opportunities for UC’s $91 billion portfolio of retirement, endowment, and cash assets. CIO Jagdeep Bachher plans to invest up to $1 billion in Asian public and private markets in the next three years, according to a media statement.

“Ratan Tata is a business legend and inspiration,” Bachher said. “Given his wealth of experience and relationships in India and globally, the University of California will benefit immensely from his insights on the growth of global businesses as we enhance our Asian investments portfolio.”

Tata said it would be “a pleasure and an invigorating experience” to work with Bachher and his team as they consider investments in “innovative new technology startups and private companies in the US and Asia.”

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Tata stepped down as chair of the Tata Group in 2012 after more than 20 years in charge of the company. During that period, it grew revenues from $5 billion in 1991 to more than $100 billion in 2012. The group has subsidiaries in dozens of industries such as steel production, car manufacturing, hotels, and even asset management.

Tata currently sits on the board of engineering company Alcoa, and has advisory roles with Mitsubishi, JP Morgan Chase, Rolls Royce, and the Monetary Authority of Singapore. He also serves on the board of trustees of his alma mater Cornell University and the University of Southern California.

The appointment is the latest in a string of high-profile hires made by Bachher since he became CIO in April 2014. Rick Bookstaber—co-author of the Volcker Rule—joined as chief risk officer in June this year. Scott Chan, formerly of Sacramento County and Sam Kunz, ex-Chicago Policemen’s Annuity and Benefit Fund, have both traded the CIO title for managing director jobs with UC in the past 12 months.

In December’s issue of Chief Investment Officer, managing editor Leanna Orr spends a day with the UC investment team—subscribe now for your copy.