OCIO Hirtle Callaghan Names New CEO

Ex-Bridgewater strategist and former NYC pension advisor will take the helm of the OCIO firm.

Ranji Nagaswami and Jonathan HirtleJonathan Hirtle and Ranji NagaswamiOutsourced-CIO (OCIO) Hirtle Callaghan has appointed former New York City pensions advisor Ranji Nagaswami as CEO.

Nagaswami replaces co-founder Jonathan Hirtle, who will remain at the firm as executive chairman to work full-time focusing on clients and strategy, the firm announced Tuesday.

“Ranji Nagaswami is an exceptional leader and an extraordinarily talented industry executive,” Hirtle said in a statement. “She brings tremendous additional strength to our executive team as we enter the next phase of our firm’s development and growth.”

The new CEO joins from Corsair Capital, where she was a senior advisor for two years. Prior to that, Nagaswami held roles at Bridgewater Associates, AllianceBernstein, and UBS Asset Management.

From 2010 to 2012, she was chief investment advisor to New York City Mayor Michael Bloomberg, counseling on the city’s $150 billion retirement system.

“Hirtle Callaghan is a firm of investment industry idealists with a history of innovation in managing complete, custom-designed investment solutions for its clients,” Nagaswami said in a statement. “I am thrilled to be at its helm and find ways to strengthen our conflict-free, value creation model for the benefit of investors seeking complete fiduciary alignment in their outsourced investment department.”

According to CIO’s OCIO survey, Hirtle Callaghan managed $24.1 billion of outsourced family office, endowment, foundation, health care, and pension assets as of January 2016.

Related: Explosive Growth, Quiet Fears & 2016 Outsourced-Chief Investment Officer Buyer’s Guide: Hirtle Callaghan & Co.