Newsmakers
Former UMD Foundation CIO Named Chief Global Strategist at OCIO Provider Acansa
Sam Gallo had previously served as the CIO the University of Maryland Foundation.
News
Regulation
Trump, Republicans Agree to Cut Controversial ‘Revenge Tax’
Referred to as Section 899, the provision would have raised taxes on foreign investments in the U.S., which investors said would hurt capital markets.
Newsmakers
Eric Stein Elevated to Voya Investment Management CIO Amid Leadership Shuffle
Stein will be succeeded as the firm’s head of investments and CIO of fixed income by Jeff Hobbs.
Asset Management Culture
Who Works Where?
Data from the CFA Institute and CAIA show where holders of their credentials work or seek to work across the investment universe and around the world.
Alternatives
Congress Eyes Lucrative Tax Break for BDCs
A provision included in the House version of the Republican tax bill—but omitted from the Senate’s version—would benefit the private credit markets.
Newsmakers
NTAM Names Pedro Guazo Head of International, Responsible Investing
Guazo joins Northern Trust Asset Management from his former role as CEO of the United Nations Joint Staff Pension Fund’s investment office.
Asset Allocation
AP7 Dumps $1.3B in Tesla Stock Over Workers’ Rights at 4-Month High
Sweden’s second-largest pension showed that divesting for ESG purposes doesn’t require taking a loss.
Newsmakers
Daniel Crews Named Deputy CIO of Tennessee Treasury
Grant Leslie will step into Crews’ former role as director of private equity.
Alternatives
CPP Credit Investments Provides $300M for Värde Finance Platform
The partnership will focus on subscription line lending and other fund finance products.
Former CFA Institute Marketing Chief Indicted in $6M Embezzlement Scheme
Michael Collins is accused of stealing funds from multiple employers by invoicing them for nonexistent services from companies he owned.
Pensions
Oregon Passes Bill to Manage Climate Change Risks
The legislation, which awaits the governor’s signature, calls for boosting investments in clean energy.
Regulation
The Reason the Senate’s Tax Bill Seems Cheaper Than House Version
Acceding to a Republican request to base the cost estimate for the Senate bill on ‘current policy baseline,’ the Joint Committee on Taxation found the upper chamber's bill much less costly than the House bill.
Asset Management Culture
How Family Offices Should Tackle Hiring, Retention Challenges
A shrinking pool of professionals is putting a strain on recruitment, according to a new family office operational excellence report.
Newsmakers
Brian Funk Named President of MetLife Investment Management
The firm’s global head of private capital became interim president in May.
Newsmakers
Maryland SRPS Names Robert Burd as Acting CIO
The fund’s deputy CIO will be elevated to the role, effective July 1.