The University of California Berkeleys investment
chief John-Austin Saviano intends to step down in coming weeks,
according to an internal email reviewed by II.
Savianos exit would bring to a close his inaugural
tenure as CIO and president of the Berkeley
Endowment Management Company, a standalone investment
office launched in 2009. He did not specify where his next role
might be, indicating that it may be an open decision.
Ill be at Cal for a while to help with
transitioning while beginning the shift into this new
phase, Saviano wrote. Whether institutions or very
large families who are planning to launch an investment
function, organizations who might need interim CIO services or
help picking a consulting or OCIO [outsourced-CIO]
relationship, Ill continue to serve the same
institutional investor community. I may also work with a few
select GPs on fund launch and marketing plans.
Neither Saviano nor the Berkeley spokesperson contacted
responded immediately to requests for comment.
Savianos role is one of several with the chief
investment officer title under the University of
California umbrella. A central team in Oakland runs system-wide
assets from the Office of the President roughly $100
billion in retirement, operating capital, and endowment funds.
UC CIO Jagdeep Bachher serves as investment chief to this
overarching program, and reports to the Board of Regents.
Still, many UC campuses choose to maintain their own portfolios
in parallel, and staff in-house management teams.
Establishing Berkeleys portfolio company has
been a highlight of my career, Saviano wrote in the
email. Berkeleys mission, students and faculty are
an enduring inspiration. To have work that is both
intellectually satisfying and has the opportunity to make a
difference to such an institution has been a real
Saviano remains listed on the offices website as
president and CIO, and succession plans remain unclear.