Outsourced chief investment officer firm Hirtle Callaghan has hired a chief investment officer of its own for the first time.
The firm announced April 3 that it has hired Mark Hamilton, who was previously CIO of asset allocation at OppenheimerFunds, to fill the role. According to West Conshohocken, Pennsylvania-based Hirtle Callaghan’s announcement, Hamilton will be responsible for the firm’s entire investment program and will chair its investment policy committee.
“The addition of an industry veteran of Mark's caliber further deepens and complements our talent bench; we are thrilled to have him lead our investment team," said Ranji Nagaswami, chief executive officer at Hirtle Callaghan, in a statement.
Hirtle Callaghan bills itself as a pioneer of OCIO offerings, having been in operation for 30 years. According to the firm, Hirtle Callaghan supervises over $20 billion in assets for family offices, endowments, foundations, and pension funds.
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Hamilton most recently managed roughly $12 billion in assets while he was at OppenheimerFunds. He departed the firm on March 9, an OppenheimerFunds spokesperson said by phone.
OppenheimerFunds has not filled the role vacated by Hamilton, nor does it have plans to fill it right now, the spokesperson said. Other portfolio managers including Jeffrey Bennett, Caleb Wong, Ben Rockmuller, and Alessio de Longis are filling in for Hamilton’s role right now, the spokesperson added via email.
Before joining OppenheimerFunds in 2013, Hamilton worked for AllianceBernstein for nearly 20 years. His most recent role at AB was that of investment director of the dynamic asset allocation portfolio management team.
"I'm proud to be joining a firm that is renowned for its client centricity and relentless innovation," Hamilton said in the statement. "I look forward to working closely with my talented colleagues to create even better outcomes so our clients can fulfill their aspirations and meet their critical missions."
According to Hirtle Callaghan, the appointment of Hamilton follows the hiring in January of a new deputy CIO, Daniel McCollum, who joins the firm from Brown University, according to Hirtle Callaghan’s announcement.