Alaska’s CIO Scott Leaves to Join Wurts

(June 13, 2011) — The CIO of the $40 billion Alaska Permanent Fund Corporation (APFC), Jeffrey Scott, announced June 13 that he and Max Giolitti would leave the sovereign wealth fund and join consulting firm Wurts and Associates.

Scott joined the Alaska Permanent Fund in 2008 and guided the fund through tumultuous markets with a sophisticated asset allocation structure. Under his leadership, aiCIO presented the APFC with its 2010 Industry Innovation Award in the Sovereign Wealth Fund category. aiCIO  profiled Scott in the upcoming issue of the magazine and detailed Scott’s innovations at APFC.

Wurts and Associates is a consulting firm with offices in Seattle and Los Angeles that advises over $34 billion in institutional assets. Scott will lead Wurts’ discretionary investment practice.

Scott leaves the APFC with his close associate Max Giolitti, who had served as the SWF’s Director of Asset Allocation and Risk. Giolittli and Scott worked together at Microsoft where they both had a hand in managing a $56 billion absolute-return global asset portfolio. Giolitti will join Wurts as Director of Risk Allocation.

“This is an amazing opportunity to work at a firm with a stellar reputation and a history of excellence,” said Jeff Scott in a press release. “I’m excited to work with Jeff [MacLean, Wurts’ CEO] and his talented team to put a philosophy of risk-based asset allocation into practice. Wurts does a tremendous job of providing investment advice that takes into consideration macroeconomic trends and capital market valuations, and I believe the addition of a risk framework will help the firm challenge the conventional wisdom on how asset allocation decisions are made.”

Scott’s tenure at the Alaska Permanent Fund will continue until early August, when he will officially depart the SWF and join Wurts and Associates.