This content is from: Corner Office
New CIO Appointed at NYC’s $200 Billion Pension System
The former deputy CIO for private markets has been promoted to chief investment officer of the city’s five pension funds.
The New York City comptroller has appointed a new chief investment officer for the city’s $200 billion pension system.
Comptroller Scott Stringer on Monday announced the promotion of Alex Doñé to CIO and deputy comptroller of the Bureau of Asset Management, the division that oversees the investment of New York City’s five pension funds.
Doñé replaces Scott Evans, who stepped down as CIO at the end of June. Doñé had served as interim CIO while executive recruitment firm Korn Ferry conducted a search for Evans’ successor.
“I know that Alex’s own commitment to public service, the combination of his depth of experience and drive, his commitment to maximize risk-adjusted returns, as well as his dedication to transparency and diversity initiatives will benefit the Bureau of Asset Management, the New York City Pension Funds, and New Yorkers throughout the five boroughs,” Stringer said in a statement.
Doñé joined the Bureau of Asset Management in 2012. Before he was named interim CIO, he was the deputy CIO for private markets. His previous roles at the bureau included head of private equity and executive director of private equity.
[II Deep Dive: NYC’s Scott Evans on Turning Around the City’s Pension System]
Before joining the comptroller’s office, Doñé served for two years in the Obama administration as a presidential appointee to the U.S. Department of Commerce’s minority business development agency. Earlier in his career, Doñé had served as a private equity consultant, a director at KPMG Corporate Finance, and an investment banker at Merrill Lynch.
While interim CIO for the NYC pensions, Doñé oversaw diversity initiatives including expanding the bureau’s minority- and women- owned brokerage initiative and launching a search for an asset manager to source and invest in first-time funds and early-stage firms managed by emerging managers, according to the statement.
“It’s an honor and a privilege to be entrusted with protecting the retirement security of New York City’s public employees and families,” Doñé said in a statement. “I am grateful to Comptroller Stringer for the opportunity to serve New York City and look forward to working with my colleagues in the Bureau of Asset Management and all of the Systems’ trustees to continue strengthening and improving the City’s pensions.”