Home ListingApril 19, 2016

Philadelphia Pension CIO to Depart

Brad Woolworth is leaving the $5 billion pension fund after just a year as investment chief.

Reported by Featured Author

Brad Woolworth, outgoing CIOThe City of Philadelphia is once again seeking a new investment chief following its second CIO departure in two years.

Brad Woolworth is leaving at the end of the month for “family reasons,” Rob Dubow, city finance director and chairman of the pension board, confirmed to CIO.

Woolworth first joined the $5.3 billion fund in 2009 as head of private markets and real assets. He previously served as an investment officer specializing in private equity at the New York State Common Retirement Fund.

Woolworth was promoted to CIO last year following the departure of former chief Sumit Handa, who left in January 2015 to become CIO of Tiber Capital Management, a subsidiary of BNY Mellon. Handa had led Philadelphia’s pension fund since June 2011.

Woolworth’s last day is April 29. Dubow said the fund is currently conducting a search for his replacement.