The University of California Regents’ office is expanding the responsibilities of two of its executives to help cover the slack left by recent departures in the investment operation.
In addition to their other duties, Samuel Kunz, managing director of asset allocation and investment strategy, will run passive public equity investments. Ronnie Swinkels, director, public equity, will also be in charge of the active decisions. Their titles will not change. They will now report directly to the university’s chief investment officer, Jagdeep Singh Bachher.
This comes during an exodus for the office’s investment division.
Earlier this month, Eduard van Gelderen left his job as senior managing director for a gig with the Canadian Public Sector Pension Investment Board. He oversaw equities and commodities. Also, Tom Fischer, a former investment officer in charge of macro, and Scott Chan, a former senior managing director who managed global equities, left their posts in June and July. Chan will start a deputy CIO job with the $224.9 billion California State Teachers’ Retirement System on August 1.
Following van Gelderen’s exit, Bachher said there were no plans to replace him. Instead, his responsibilities would be split between internal staff.
The Regents office manages the investments of the University of California’s $66.7 billion pension fund and its $11.9 billion endowment.
“We are fortunate to have such a deep and diverse talent within our office who are ready to step into new leadership roles,” said Bachher. “These moves will ensure the seamless execution of the investment strategy I have put in place over the four years I have served as the university’s chief investment officer, and reflect our commitment to grow and nurture the next generation of leaders in our industry.”