OCIO growth in 2019: The Big Get Bigger, Slim Pickings for the Rest
No one knows exactly when the Southern Cottontail Rabbit diverged from its other 19 (or so) North American Cottontail cousins, becoming its own distinct species of bunny.
In evolution these things just happen.
Similarly, among financial institutions, modern banks seem to have evolved from traditional moneylenders somewhere in northern Italy in the late 14th century. But that fateful development could only be recognized in retrospect.
Our friend John Hirtle, of Hirtle, Callaghan & Co, claims that he (with fellow Goldman Sachs vet Donald Callaghan) birthed the OCIO species in 1988. He’s a very nice (and imposing) man, so we take him at his word.
In any case, there were soon several smallish firms pursuing the OCIO business model in the early 1990s.
The core idea was to offer a diversified and full-discretion money management function to family offices and others who could no longer effectively or affordably do the job in-house (even with the help of traditional trust banking services).
The job was becoming too sophisticated and complex, both conceptually and operationally.
Observing their success, a number of larger firms joined the scrum in the OCIO space and, in a couple of decades we had the OCIO landscape of today, managing not just billions, but trillions of dollars. And reaping proportionate fees therefrom.
We’ve been charting the growth of the OCIO industry for the past decade in our annual OCIO report and the heirs of Hirtle, big and small, seem (mostly) to have flourished.
In our shiny new 2019 report we observe that total OCIO assets grew from $1.98 Trillion to $2.38 Trillion. That’s a year-over-year growth rate of 19 percent.
That’s pretty impressive! But, the AUM increase is not as vigorous as the annual growth over the previous four years (2014 through 2018). And some of the increase represents a “reclassification of assets” at two OCIO providers.
So, three decades into the OCIO era, we’re minded to ask whether the OCIO growth rate may be slowing, maybe even plateauing. Are the OCIO rabbits multiplying faster than the green, green grass of customer money they live on?
Let’s consider the evidence, both statistical and anecdotal.
The hard numbers
Eighty-three firms have updated their AUM and contact information for our 2019 Outsourced Chief Investment Officer (OCIO) report.
Outsourced assets as of June 30th topped $2.37 trillion, up 19.4% or $386 billion from the nearly two trillion we reported a year ago. Most of these assets are from U.S. institutions and UHNW families but not all. We estimate that about ten percent of assets came from foreign entities.
A few firms dropped off our list thanks to acquisitions by Goldman Sachs (Aptitude and Rocaton) and Mercer (Pavilion and Summit Solutions) and a few others cut their losses and retooled their business model.
New firms joining the OCIO fray, include a billion-dollar spin-out of the Oklahoma State University Foundation called MEMCO or Multilateral Endowment Management Company, with Kirk Jewell as CEO and Ryan Tidwell as CIO.
At first glance, a 19.4 percent jump in outsourcing business seems healthy and auspicious. But there are caveats.
The $147.6bn jump in AUM at SEI and Wilshire was in large part a result of reclassifications, i.e., the money was already on the books in discretionary accounts, just moved to their OCIO column.
Remove Wilshire and SEI from our tally and growth for the rest of the group rose 12.6 percent. Still not bad, but now for a second caveat.
Six firms hold almost half the $2.3trillion on our list and they did fine.
These big six, Aon, Blackrock, Goldman Sachs, Mercer, Russell and Willis Towers Watson manage $1.07 trillion or 45 percent of the assets and grew a robust 16.14 percent.
But the rest faced headwinds. Seventy-five firms, excluding Wilshire, SEI and the big six, competed for the remaining business and gained a so-so 9.21 percent in assets.
This is a big come-down from the prior six-month jump of 17 percent we wrote about last year and the 21 percent leap the year before.
Our OCIO contacts offered a variety of reasons for this slow-down. The sector is more competitive than ever, bids and margins are collapsing by 30 to 40 percent (in some cases by much more), and the low-hanging fruit of past years, corporate pensions, are fewer and farther between.
But, there were also macro factors at work.
According to a recent Boston Consulting Group report, global financial wealth grew by only 1.6% to $205.9 trillion dollars in 2018 compared to 7.5% in 2017 and 6.2% CAGR from 2013 to 2017.
We prefer, however, to “accentuate the positive” by highlighting fifteen firms that grew the fastest over the past year.
The first chart ranks the Top 15 firms by percentage growth in assets, whether the firm is large or small.
The second chart ranks the Top 15 firms in dollar growth which, as you might expect, is dominated by the big guys.
Top 15 OCIO firms by percentage growth in AUM
(12 months ending June 30, 2019 unless otherwise noted)
– |
Company |
Percent increase in AUM |
Dollar increase AUM $bns |
Discretion AUM $bns Jun/Mar 2019 |
Discretionary AUM $bns March 2018 |
– |
– |
– |
– |
– |
– |
1 |
BNYMellon Investment Mgmt (3-31-19) |
142.9% |
$11.00 |
$18.70 |
$7.70 |
– |
– |
– |
– |
– |
– |
2 |
Meketa Fiduciary Mgmt |
112.2% |
$8.30 |
$15.70 |
$7.40 |
– |
– |
– |
– |
– |
– |
3 |
LCG Associates (3-31-19) |
83.8% |
$0.32 |
$0.70 |
$0.38 |
– |
– |
– |
– |
– |
– |
4 |
NEPC |
53.7% |
$9.50 |
$27.20 |
$17.70 |
– |
– |
– |
– |
– |
– |
5 |
Angeles Investment Advisors |
53.1% |
$1.70 |
$4.90 |
$3.20 |
– |
– |
– |
– |
– |
– |
6 |
BlackRock (3-31-19) |
51.6% |
$64.00 |
$188.00 |
$124.00 |
– |
– |
– |
– |
– |
– |
7 |
Clearbrook Global Advisors |
45.5% |
$0.38 |
$1.20 |
$0.83 |
– |
– |
– |
– |
– |
– |
8 |
Rockefeller & Co. |
45.0% |
$4.90 |
$15.80 |
$10.90 |
– |
– |
– |
– |
– |
– |
9 |
State Street Global Advisors |
35.3% |
$32.30 |
$123.70 |
$91.40 |
– |
– |
– |
– |
– |
– |
10 |
Cambridge Associates (3-31-19) |
30.4% |
$9.10 |
$39.00 |
$29.90 |
– |
– |
– |
– |
– |
– |
11 |
DiMeo Schneider Associates (3-31-19) |
30.0% |
$1.20 |
$5.20 |
$4.00 |
– |
– |
– |
– |
– |
– |
12 |
SunTrust Bank (3-31-19) |
26.5% |
$2.70 |
$12.90 |
$10.20 |
– |
– |
– |
– |
– |
– |
13 |
Hall Capital Partners |
23.7% |
$1.80 |
$9.40 |
$7.60 |
– |
– |
– |
– |
– |
– |
14 |
Arthur J. Gallagher |
23.1% |
$0.60 |
$3.20 |
$2.60 |
– |
– |
– |
– |
– |
– |
15 |
UBS AG (12-31-18) |
22.0% |
$2.80 |
$15.80 |
$13.00 |
– |
– |
– |
– |
– |
– |
– |
Average/Total |
45.5% |
$150.60 |
$481.40 |
$330.81 |
Top 15 OCIO firms by dollar growth in AUM
(12 months ending June 30, 2019 unless otherwise noted)
– |
Company |
Dollar increase AUM $bns |
Percent increase in AUM |
Discretion AUM $bns Jun/Mar 2019 |
Discretion AUM $bns March 2018 |
– |
– |
– |
– |
– |
– |
1 |
BlackRock (3-31-19) |
$64.1 |
51.6% |
$188.0 |
$124.0 |
– |
– |
– |
– |
– |
– |
2 |
Mercer |
$40.3 |
16.7% |
$282.0 |
$241.7 |
– |
– |
– |
– |
– |
– |
3 |
State Street Global |
$32.3 |
35.3% |
$123.7 |
$91.4 |
– |
– |
– |
– |
– |
– |
4 |
Goldman Sachs |
$27.1 |
20.0% |
$162.3 |
$135.2 |
– |
– |
– |
– |
– |
– |
5 |
AON Hewitt (3-31-19) |
$14.6 |
10.7% |
$151.3 |
$136.7 |
– |
– |
– |
– |
– |
– |
6 |
Willis Towers Watson (3/31/19) |
$14.0 |
11.7% |
$134.0 |
$120.0 |
– |
– |
– |
– |
– |
– |
7 |
BNY Mellon IM (3-31-19) |
$11.0 |
142.9% |
$18.7 |
$7.7 |
– |
– |
– |
– |
– |
– |
8 |
NEPC |
$9.5 |
53.7% |
$27.2 |
$17.7 |
– |
– |
– |
– |
– |
– |
9 |
Cambridge Assoc (3-31-19) |
$9.1 |
30.4% |
$39.0 |
$29.9 |
– |
– |
– |
– |
– |
– |
10 |
Meketa Fiduciary Mgmt |
$8.3 |
112.2% |
$15.7 |
$7.4 |
– |
– |
– |
– |
– |
– |
11 |
Vanguard |
$8.0 |
19.1% |
$50.0 |
$42.0 |
– |
– |
– |
– |
– |
– |
12 |
Morgan Stanley/ Graystone |
$5.2 |
19.4% |
$32.0 |
$26.8 |
– |
– |
– |
– |
– |
– |
13 |
Rockefeller & Co. |
$4.9 |
45.0% |
$15.8 |
$10.9 |
– |
– |
– |
– |
– |
– |
14 |
Northern Trust |
$4.7 |
6.5% |
$76.8 |
$72.1 |
– |
– |
– |
– |
– |
– |
15 |
Alan Biller & Assoc (3-31-19) |
$4.4 |
9.8% |
$45.0 |
$41.0 |
– |
– |
– |
– |
– |
– |
– |
Total/Average |
$257.5 |
23.3% |
$1361.5 |
$1,104.50 |
Prophesy is a good line of business, but it is full of risks
— Mark Twain
We were about to add some learned remarks on where the OCIO business was headed when a quote by Mark Twain came to mind. Umm…maybe not. Best to get on with the show.
And now…without further delay…the Main Event!
Skorina’s OCIO list: 83 firms
June 2019 edition
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Skorina’s 2019 OCIO (Outsource Chief Investment Officer) List (12 months ending June 30, 2019 unless otherwise noted)
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– |
– |
– |
– |
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1 |
Agility (Perella Weinberg) Chris Bittman, CIO |
Denver, CO (303) 813-7910 |
$9.8bn (6-30-19) Email link |
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2 |
Alan Biller and Associates Alan D. Biller, CEO & Sr Consultant |
Menlo Park, CA (650) 328-7283 |
$93.63bn total $45bn discretionary (3-31-19) |
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3 |
Angeles Investment Advisors Michael A. Rosen, CIO and Managing Partner |
Santa Monica, CA (310) 857-5821 |
$32bn advisory $4.9bn discretionary (6-30-19) |
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4 |
AON Hewitt Ed Bardowski, Director, Business Development |
Chicago, IL (484) 941-1409 |
$3.1trillion advisory (6-30-18) $151.31bn discretionary (3-31-19) |
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5 |
Appomattox Advisory Susan Webb, Founder, Pres, CIO Oscar Gil, Founder, CEO Drianne Benner, MD |
New York, NY 212 895-3012 |
$1.7bn discretionary (6-30-19) |
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6 |
Artemis Wealth Advisors Peter M. Rup, Founder & CIO |
New York, NY (212) 838-9000 |
$1.32mm total $754mm discretionary (6-30-19) |
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7 |
Arthur J. Gallagher & Co. Michael W. Johnson, Area President Institutional Investment & Fiduciary Services |
Washington, DC (202) 898-2270 |
$59.13bn advisory $3.2bn discretionary (6-30-19) |
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8 |
Athena Capital Advisors Lisette Cooper, MP/CIO |
Lincoln, MA (781) 274-9300 |
$5.882bn total $5.212bn discretionary (12/31/18) |
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9 |
Balentine M. Rob Ragsdale, Partner |
Atlanta, GA (404) 537-4800 (984) 355-5201 |
$3.1bn (6-30-19) |
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10 |
Ballentine Partners Will Braman, CIO |
Waltham, MA (781) 314-1300
|
$12.3bn total $7bn discretionary (3-31-19) |
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11 |
BlackRock Jeff Saef, MD, Head Americas Region/ Client Portfolio Solutions |
New York, NY (609) 282-8950 |
$775bn Advisory $188bn discretionary (3-31-19) |
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12 |
BNY Mellon Investment Management Andrew D. Wozniak, Head of Fiduciary Management |
New York, NY (412) 236-7940 |
$18.7bn global discretionary (3/31/19) |
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13 |
Callan LLC Jim Callahan, President |
San Francisco, CA (415) 974-5060 |
$2.4trillion advisory $19.4bn discretionary (3-31-19) |
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14 |
Cambridge Associates Deirdre Nectow, Mgn Director |
Boston, MA (617) 457-1781 |
$405bn advisory $39bn discretionary (3-31-19) |
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15 |
Canterbury Consulting Poorvi Parekh, Director of Outsourced Investments |
Newport Beach, CA (949) 718-2224 |
$20.2bn advisory $1.9bn discretionary (12-31-18) |
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16 |
Clearbrook Global Advisors Elliott Wislar, CEO Gregg Sibert, Chief Mrktg Officer |
New York, NY (212) 683-6686 |
$15bn advisory $1.2bn discretionary (6-30-19) |
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17 |
Commonfund Tim Yates, Mgn Dir, Head Strategic Solutions |
Wilton, CT (203) 563 -5238 |
$24.9bn discretionary (3-31-19) |
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18 |
CornerStone Partners David Russell, Sr Mgn Dir |
Charlottesville, VA (434) 295-3947 |
$10.5bn (3-31-19) |
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19 |
Deutsche Bank Brett Lane, Head of Institutional Advisory Services |
New York, NY (212) 454-0816 |
$6.1bn advisory (6-30-19) $15.2bn discretionary (6-30-19) |
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20 |
DiMeo Schneider & Assoc. Jon Fellows, Partner & Chair, Discretionary Committee Matt Porter, Partner & Vice-chair Discretionary Committee |
Chicago, IL (312) 853-1000 |
$91bn advisory $5.2bn discretionary (3-31-19) |
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21 |
Disciplina Matthew W. Wright, President & CIO |
Nashville, TN (615) 490-6007 |
$300mil discretionary (6-30-19) |
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22 |
Discretionary Management Services (DeMarche Assoc.) Thomas C. Woolwine, President |
Overland Park, KS (913) 981-1345 |
$23.7bn advisory $345.9mm discretionary (3-31-19) |
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23 |
Edgehill Endowment Partners Ellen Shuman, Mgn Partner Nina F. Scherago, Mgn Partner |
New Haven, CT (203) 654-3552 (203) 654-3551 |
$1.75 discretionary (6-30-19) |
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24 |
Ellwood Associates Daniel Simon, Director OCIO consulting |
Chicago, IL (312) 782-5432 |
$67bn advisory $1.bn discretionary (3-31-19) |
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25 |
Fidelity Institutional AM (ex Pyramis) Jim Zadrozny, SVP institutional sales |
Smithfield, RI (401) 292-4760 (401) 209-0523 cell |
$838bn global $21bn discretionary (6-30-19) |
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26 |
FEG Investment Advisors Devinne Kelly, Sr Client Development Associate |
Cincinnati, OH (513) 827-3204 |
$60.1bn advisory $6.3bn discretionary (12-31-18) |
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27 |
Gallagher Fiduciary Advisors Michael Johnson, President Phil Sabrizio, Area director |
Washington, DC (202) 898-2270 |
$59.13bn advisory $3.2bn discretionary (6-3-19) |
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28 |
Gerber Taylor Matthew Kinnear, Client Development |
Memphis, TN (901) 526-9750 |
$7.8bn advisory $5.6bn discretionary (6-30-19) |
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29 |
Glenmede |
Philadelphia, PA (215) 419-6640 |
$39.9bn total $9.2bn tax-exempt OCIO (6-30-19) |
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30 |
Global Endowment Mgmt Stephanie Lynch, Partner |
Charlotte, NC (704) 333-8282 |
$10.3bn (6/30/19) |
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31 |
Global Strategic Investment Solutions Don Callaghan, Mgn Partners |
Scottsdale, AZ (480) 935-2134 |
$500mil discretionary (9-30-19) |
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32 |
Goldman Sachs Gregory Calnon, Mgn Director |
New York, NY (212) 855-0124 |
$162.3bn discretionary (6/30/19) |
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33 |
Hall Capital Partners Sarah Stein, Managing Partner Alison Bowe Diessner, Principal |
San Francisco, CA (415) 277-2634 (415) 217-2494 |
$34.3bn $9.4bn discretionary (3-31-18) |
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34 |
Highland Associates Paige Daniel, Mgn Dir |
Birmingham, AL (205) 939-8308 |
$27bn total $10.5bn discretionary (3/31/19) |
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35 |
Hirtle Callaghan Erica Evans, Head of Client Engagement |
W. Conshohocken, PA (610) 943-4100 |
$21.1bn (3-31-19) |
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36 |
Holt Capital Partners Robert M. Holt, Jr., Managing Partner |
Fort Worth, TX (817) 877-1430 |
$300mil (6-30-19) |
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37 |
Investure Puja Seam, COO |
Charlottesville, VA (434) 220-0280 |
$13.2bn discretionary (5-31-19) |
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38 |
J.P. Morgan Asset & Wealth Management Monica Issar, Global Head of Multi-Asset & Portfolio Solutions |
New York, NY (212) 464-2852 |
$3trillion (6-30-19) $70bn OCIO discretionary (6/30/19) |
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39 |
LCG Associates Lauren Moore, VP Mrktg |
Atlanta, GA (770) 644-0100 |
$104.5bn advisory (3-31-19) $702mil discretionary (3-31-19) |
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40 |
Lowe, Brockenbrough & Co. (Bespoke Strategies) Christopher Dion, MD & CIO |
Richmond, VA (804) 287-2744 |
$2.9bn total $1.3bn institutional discretion (12-31-18) |
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41 |
Makena Joseph Magher, Mgn Dir |
Menlo Park, CA (650) 926-1339 |
$19.5bn (6-30-19) |
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42 |
Mangham Associates Edward W. Karppi, Partner, Co-Chief Investment Officer Joel Streeter, VP |
Charlottesville, VA (434) 973-2223 |
$1.7bn (6-30-19) |
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43 |
Marquette Associates Doug Oest, Mgn Partner |
Chicago, IL (312) 527-5500 |
$179bn advisory $5.1bn discretionary (12-31-18) |
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44 |
Meketa Fiduciary Mgmt Chaunice Peebles, Consultant |
San Diego, CA (760) 795-3455 |
$1.4 trillion advisory $15.7bn discretionary (6-30-19) |
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45 |
Mercer Rich Joseph, US delegated solutions leader |
Boston, MA (617) 747-9540 |
$10.2trillion advisory $282bn delegated global AUM (6-30-19) |
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46 |
Mill Creek Capital Advisors Josh Gross, CEO |
Conshohocken, PA (610) 941-7714 |
$6.4bn total $5.9bn discretionary (6/30/19) |
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47 |
Morgan Creek Capital Mgmt Mark Yusko, CEO & CIO |
Chapel Hill, NC (919) 933-4004 |
$1.6bn discretionary (6-30-19) |
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48 |
Morgan Stanley/Graystone Robert Mandel, Exec Dir Suzanne Lindquist, Exec Dir |
New York, NY (914) 225-5420 (212) 296-1064 |
$32bn OCIO discretionary (6-30-19) |
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49 |
Multilateral Endowment Mgmt Co. (“MEMCO”) Ryan S. Tidwell, CIO |
Edmond, OK (405) 385-5171 |
$1bn discretionary (9-1-19) |
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50 |
NEPC Steve F. Charlton, CFA, Director consulting services |
Boston, MA (617) 374-1300 |
$1.02trillion advisory $27.2bn discretionary (6-30-19) |
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51 |
New Providence Asset Mgmt Sarah Withers, Assoc. Dir |
New York, NY (646) 292-1272 |
$2.5bn discretionary (6-30-19) |
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52 |
Northern Trust Joseph McInerney, Managing Executive |
Chicago, IL (312) 444-7336 |
$116bn $76.8bn discretionary (6-30-19) |
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53 |
Partners Capital Paul Dimitruk, Chair, Partner Leslie Ahlstrand, Principal |
Boston, MA & UK (617) 292-2575 (617) 778-7046 |
$25.1bn total (3-31-19) |
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54 |
Pentegra Investors Inc. Sarah Lange, MD, Institutional Investment Solutions |
White Plains, NY (914) 821-9563 |
$13bn total discretionary (6-30-19) |
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55 |
Permanens Capital Tom Butler, Partner |
New York, NY (212) 993-7447 |
$3.2bn discretionary (6-30-19) |
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56 |
Permit Capital Advisors Mimi Drake, Co-CEO Bill Curran, Portfolio Manager |
West Conshohocken, PA (610) 940-5331 |
$1.2bn discretionary (6-30-19) |
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57 |
PFM Asset Mgmt John Spagnola, Mgn Dir |
Philadelphia, PA (215) 557-1220 |
$6.7bn advisory $12.6bn discretionary (6-30-19) |
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58 |
PNC Bank Deborah A. Kolsovsky, EVP & MD Institutional Advisory Solutions |
Scranton, PA (570) 961-6868 |
$26.4bn discretionary AUM (3-31-19) |
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59 |
Regions Asset Mgmt S. Alan McKnight, Jr., CIO |
Birmingham, AL (205) 264-6621 |
$87.3 advisory $33.1bn discretionary (3/31/19) |
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60 |
Rockefeller Capital Mgmt Grace Yoon, MD |
New York, NY (212) 549-5392 |
$34.8bn total $15.8bn discretionary (6/30/19) |
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61 |
Russell Investments Eric Macy, Mgn Dir |
New York, NY (212) 702-7941 |
$2.37trillion advisory (12-31-18) $152.4bn discretionary (6-30-19) |
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62 |
Segal Marco Advisors TJ Kistner, VP, Head of Discretionary Portfolio Management & Solutions |
Chicago, IL (312) 612-8493 |
$11.5bn discretionary (6-30-19) |
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63 |
SEI Institutional Group Michael Cagnina, SVP, MD |
Oaks, PA (610) 676-1496 |
183bn total discretionary (6/30/19) |
|
|
|||
|
64 |
Seven Bridges Advisors M. Ram Lee, Partner |
New York, NY (212) 490-6320 |
$5bn total (12-31-18) |
|
|
|
|
|
|
65 |
Silvercrest AM Chris Long, MD |
New York, NY (212) 649-0697 |
$20.8bn total (3-31-19) $15.3bn discretionary |
|
|
|||
|
66 |
Spider Management Co. Rob Blandford, President, CIO |
Richmond, VA (804) 289-6010 |
$4.6bn discretionary (3-31-19) |
|
|
|
|
|
|
67 |
State Street Global Advisors David Wiederecht, EVP, Head of OCIO |
Stamford, CT (203) 326-2376 |
$123.7 discretionary (6/30/19) |
|
|
|||
|
68 |
Strategic Investment Group Nikki Kraus, MD, Client dev |
Arlington, VA (703) 243-4433 |
$26.1bn total $24.9bn discretionary (6-30-19) |
|
|
|
|
|
|
69 |
SunTrust Bank Elizabeth Cabell Jennings, SVP, Dir Institutional Invest Fdns, Edns Practice |
Atlanta, GA (404) 813-1538 Richmond, VA |
$12.9bn discretionary (3-31-19) |
|
|
|||
|
70 |
TIAA Endowment & Philanthropic Services Michael Murray, Head of Distribution Chris Kohler, Consultant Relations |
Boston, MA
(847) 305-6089 (814) 360-1500 |
$11.5bn discretionary (6-30-19) |
|
|
|
|
|
|
71 |
TIFF Investment Mgmt Pat Torrey, Mgn Director |
Radnor, PA (610) 684-8201 |
$8bn discretionary (3/31/19) |
|
|
|
|
|
|
72 |
Truvvo Partners Casey D. Whalen, CEO & CIO Roundtable successor |
New York, NY (212) 488-5485 |
$4bn total (6-30-19) |
|
|
|||
|
73 |
UBS AG Andrea Fisher, head Americas Mohammad Ahmad, Head, Business Development, Michael Walsh, EMEA Calvin Kim, APAC |
Chicago, IL (212) 882-5147 41 79 629 48 29 |
$15.8bn OCIO mandates (12-31-18) |
|
|
|
|
|
|
74 |
Bank of America Bernard Reidy, National Philanthropic Sales Executive |
New York, NY (203) 571-5341 |
$30.6bn discretionary (3-31-19) |
|
|
|
|
|
|
75 |
Vanguard Christopher Philips, Head of Institutional Advisory Services |
Malvern, PA (610) 503-1089 |
$50bn discretionary (6-30-19) |
|
|
|
|
|
|
76 |
Verger Capital Management Patrick Decker, Mgn Dir Wesley Carroccio, Mgn Dir |
Winston-Salem, NC (336) 758-4240 |
$1.7bn discretionary (3-31-19) |
|
|
|||
|
77 |
Verus Investments Shelly J. Heier, Pres & COO |
Seattle, WA (206) 622-3700 |
$415.7bn advisory $3.7bn discretionary (6-30-19) |
|
|
|||
|
78 |
Wealth Strategist Partners Susan K Lucas, COO |
Chicago, Il (312) 863-6082 |
$1bn total (6-30-19) |
|
|
|
|
|
|
79 |
Wells Fargo – Institutional Asset Advisors Rob Kent, VP national sales dir (Acquired by Principal Financial Grp 2019) |
Overland Park, KS (913) 234-2929 |
$23bn discretionary (6/30/19) |
|
|
|
|
|
|
80 |
Wespath Institutional Investments T. Joseph Halwax, MD Institutional Services |
Glenview, IL (847) 866-4307 |
$3.8bn discretionary (6/30/19) |
|
|
|
|
|
|
81 |
Willis Towers Watson Kemp Ross, Global Head of Delegated Debra Woida, Head, Delegated Investment Services, Americas Pieter Steyn, EMEA head Delegated Investment Services |
Chicago, IL (312) 525-2436 (312) 525-2336
44 (0) 207 170 2714 |
$134bn discretionary (3/31/19) |
|
|
|
|
|
|
82 |
Wilshire Associates Kristofer T. Kelleher, Managing Director |
Pittsburgh, PA (412) 434-1602 |
$1trillion advisory $65.5bn discretionary (3/31/19) |
|
|
|||
|
83 |
Worth Venture Partners David Wertentheil, Partner |
New York, NY (212) 558-9017 |
$300mil discretionary (6-30-19) |
|
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The Skorina Letter
Each issue explores how the world’s most accomplished asset managers think and invest. Original content includes profiles and interviews with industry veterans and research on compensation and investment performance.
Our insights and commentary come from our clients – board members, CEOs, chief investment officers – and the global investment community within which we work as executive search professionals.
Institutional investors operate at the crossroads of capital, talent, and ideas, shepherding over seventy trillion dollars in global assets. It’s a constantly evolving spectacle and The Skorina Letter gives readers a ringside seat.
Prior issues can be found in “archives” on our website
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Charles Skorina & Company
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News, Interviews, Research for Institutional and Family Office Investors
Prior:
JPMorganChase – Credit and risk management
Ernst & Young – Systems and process consulting
US Army – Russian Linguist, Japan
University of Chicago, MBA, Finance
Michigan State University &
Middlebury Institute of International Studies at Monterey
Culver Academies
