Manager SelectionJanuary 27, 2023

International Paper Promotes Tusch to Oversee Pension and Savings Plans

Current Deputy CIO Carol Tusch is replacing Bob Hunkeler, who will retire at the end of the quarter after leading the investment office of International Paper for 26 years.

Reported by Dusty Hagedorn

The $16 billion defined contribution and defined benefit plans of International Paper will have a new leader come the end of March.

Carol Tusch, currently the company’s deputy CIO, will take over the role of vice president of investments, overseeing International Paper’s pension plan, savings and other plan assets, when current vice president of investments Bob Hunkeler retires at the end of the quarter.

Tusch has been with International Paper since 1999 and has served as director of trust investments before her time as deputy CIO. Prior to her tenure at International Paper, Tusch was a senior portfolio manager at the Verizon Investment Company for 16 years, where she managed more than $1 billion in private market investments within the firm’s U.S pension fund.

Tusch graduated from Fairfield University with a B.S. in finance, holds an MBA from the University of Connecticut and attended executive education courses at the Yale School of Management, focused on women on boards.

Tusch will report to Tim Nicholls, senior vice president and chief financial officer, and will remain with the company’s investment team in Stamford, Connecticut.

Hunkeler, a recognized thought leader and active contributor within the institutional investment community, will continue as a board member of CIEBA, the Committee on Investment of Employee Benefit Assets, which he once chaired.