April brings new challenges for Tony Bagwell when he becomes chief investment officer of the Cook Children’s Health Care System, the Fort Worth, Texas-based organization confirmed.
This is part of a spate of new CIO hires lately at health institutions.
“We are pleased to announce that after a months-long nationwide search, Cook Children’s Health Care System has filled the position for chief investment officer (CIO),” Cook spokesperson Kim Brown told CIO in an emailed statement. “Tony Bagwell of Columbia Investment Management Company in New York City will join our organization in April as senior vice president, CIO at Cook Children’s.”
Bagwell is leaving Columbia (assets: $2 billion) after a 17-year stay at the $11 billion university endowment, where he rose to managing director. Healthcare isn’t just a new sector for him, it’s also his first CIO job.
Patrick O’Connor, Cook’s previous CIO, departed in August for long-only equity firm Bay Capital, taking then-deputy CIO Apurva Mehta with him.
Bagwell’s exit is the second big loss of a key executive at Columbia recently. Harvard in November poached then-chief operating officer Sanjeev Daga. His hire marks the fifth new health care CIO to be named in the past year. He follows Jenny Chan (Children’s Hospital of Philadelphia), Niel Nag (Children’s Healthcare of Atlanta), Jim Bell (Boston Care Group), and Kieth Nelson (Texas Children’s Hospital). They all were brought in from the outside, except for Nelson, who was promoted internally.
Bagwell could not be reached for comment.