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IBM’s U.S. Pension Chief Investment Officer Steps Down

After 14 years at the technology giant, William Grey is departing and will not be directly replaced.

William Grey, the head of IBM’s U.S. defined benefit pension fund, is retiring from the company, according to an email from Grey obtained by Institutional Investor

Grey had spent the last 14 years with IBM, where he led a $50 billion portfolio and reported to companywide chief investment officer Harshal Chaudhari. “It is with mixed emotions that I have stepped down from my position at IBM to explore new opportunities,” Grey wrote in the email, which he sent Thursday to professional contacts informing them of his decision.

Chaudhari took over IBM’s roughly $150 billion global retirement plan in 2016, according to his LinkedIn profile. The top role opened following the retirement of longtime company CIO Raymond Kanner. 

There are no plans to directly replace Grey, according to a source with knowledge of the situation. The person said that Chaudhari is restructuring the team and the position of U.S. defined benefit plan CIO will no longer exist.   

“I can’t express how much I've enjoyed working with all of you over the years,” Grey said in the email. “It has truly been a privilege to forge so many wonderful relationships with so many bright, exciting, and interesting people. I’ve learned a lot from all of you, and I hope I've managed to provide some helpful guidance and insights to others along the way.” 

Grey joined the IBM pension fund in 2006 as a portfolio manager for hedge funds, according to his LinkedIn profile. But his ties to IBM go back decades. Before investing its employees’ retirement assets, Grey spent 14 years as a researcher at the IBM Thomas J. Watson Research Center, where he worked on finance projects and quantitative modeling. 

He did not respond to an email seeking further comment, and an IBM spokesperson declined to speak on the record. 

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