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University of California, New York City Appoint Interim Directors

The two public institutions have filled gaps left by recent senior-level departures.

  • By Alicia McElhaney

Two investment offices announced the appointments of interim directors Monday.

The University of California Office and New York City’s Bureau of Asset Management made separate announcements regarding staffing moves on July 23.

The UC’s investment office is making these appointments amid an exodus of its staff. New York, meanwhile, is filling the role left behind after it promoted Alex Doñé, former head of private equity, to interim chief investment officer after Scott Evans left the CIO job in June.

The University of California Office of the Chief Investment Officer announced that Samuel Kunz, managing director of asset allocation and investment strategy, and Ronnie Swinkels, director of public equity, “will assume significant new responsibilities within the OCIO.”

According to UC’s announcement, Kunz will lead the fund’s passive public equity investment strategy, and Swinkels will lead the active sleeve Both will report to CIO Jagdeep Bachher. “These moves will ensure the seamless execution of the investment strategy I have put in place over the four years I have served as the university’s chief investment officer, and reflect our commitment to grow and nurture the next generation of leaders in our industry,” Baccher said in a statement. 

The news of the appointments comes after three UC employees resigned in recently. Senior managing director Eduard van Gelderen, investment officer Tom Fischer, and public equities chief Scott Chan each announced their departures in quick succession, and Fischer accurately predicted more resignations were likely.

[II Deep Dive: Exodus at the University of California as van Gelderen Quits]

Kunz joined UC as a managing director of asset allocation in 2014. Before joining the Oakland-based team, he led the pension portfolio for the Policemen’s Annuity and Benefit Fund of Chicago. 

Swinkels, meanwhile, joined UC in 2017 as a director of public equity after spending 16 years at New Holland Capital, most recently as a senior portfolio manager. 

The comptroller of New York City, Scott Stringer, announced Monday that J. David Enriquez and Gabriel Morrow have been appointed as interim co-heads of private equity in the city’s Bureau of Asset Management. The two will oversee the city’s five retirement funds’ private equity portfolios, which together are valued at more than $12 billion. “Over the last two years, David and Gabriel have made outstanding contributions as responsible and diligent portfolio managers and I am confident that, working together, they will strengthen the investment operations of the Bureau of Asset Management,” Stringer said in a statement.

Enriquez joined the bureau in February 2016, having worked as an investment banker at Rothschild, Merrill Lynch, and Bear Stearns. Morrow came aboard around the same time after serving as a senior vice president for a New York family office for eight years.

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