UPS’ Public Markets Chief Leaves for Endowment

Ed Hetherington, Managing Director, UNCMC (Art by Chris Buzelli)UPS’ director of public markets will be departing the pension division for the University of North Carolina’s investment office, CIO has learned.  

After 14 years at one of the last open defined benefit funds in corporate America, Ed Hetherington has accepted a post with the Chapel Hill, NC-based endowment manager. 

Hetherington is due to start his new role as vice president and managing director of public investments in the first half of November. He will report directly to CEO Jonathon King, and work with public assets staff of three directors, one analyst, and two interns.

A spokesperson at the University of North Carolina Management Company (UNCMC) was unavailable for comment. 

Hetherington—as well known for his photography as investing—joined UPS as an intern in 2000, prior to graduating from the University of Pennsylvania. He climbed the ranks over the next nearly decade and a half, culminating with his promotion to public markets head in 2010.   

“It’s been the highlight of my career to work with Brian [Pellegrino, CIO] and the team at UPS, and so it’s bittersweet to leave,” Hetherington told CIO when reached for comment. Still, he said, “I am very much looking forward to working with the team at UNCMC and I think it’s a great opportunity to invest for their constituencies.”  

Pellegrino lauded Hetherington’s long track record at UPS—one that landed the now-35 year old on CIO’s Forty Under Forty list three years running.

“Ed was a great partner,” Pellegrino said. “We sincerely appreciate his contribution to the success of the UPS Group Trust. UNC Management Company is gaining an outstanding investment professional and his talents will be greatly missed at UPS. We wish Ed the best of luck in his new position.”

Hetherington and his family will be relocating to Chapel Hill from Atlanta, GA in the coming weeks. 

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