Indiana Taps Korn Ferry In Hunt for Chief Investment Officer

March 7, 2016 – Korn Ferry has been tapped by The Indiana Public Retirement System to lead its search for a new chief investment officer. David Cooper, the organization’s previous CIO, recently left to become CIO of the $2.8 billion Purdue Research Foundation. Scott David, the system’s deputy CIO and director of public equity, is serving as interim CIO until the search is concluded.

With approximately $30.2 billion in assets under management, the Indiana Public Retirement System (INPRS) serves the retirement needs of approximately 450,000 members and retirees representing more than 1,100 employers including public universities, school corporations, municipalities and state agencies.

According to recruiters specializing  in the function, demand for executive level, “high impact” investing talent has been on the rise; that demand is expected to soar in coming years. But recruiters say these roles can be generally difficult to develop and ultimately fill for clients, given their multi-disciplinary and evolving nature. In fact, impact investing roles are new to many organizations, they report.


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Korn Ferry’s structured global impact investing team draws upon its expertise in a number of areas, including non-profit, social enterprise, philanthropy, financial services, energy, education, healthcare, real estate, technology, public-private partnerships, CEO, boards, leadership development, and succession planning.

“It is no secret that demand for high quality CIO’s across the asset allocator spectrum, including endowments and foundations‎, corporate, public and state plans, has increased significantly over the last five years as expectations regarding performance has ratcheted up post financial crisis,” said David Barrett, managing partner of David Barrett Partnersa boutique specialist search firm which recruits senior and C-level professionals for the investment and wealth management sector.

“Demand for CIOs in alternatives, especially real assets, is on the rise as firms take the lead from investors increasingly seeking assets with lower correlation to the stock and bond markets and higher returns,” said Maria de Rossi, a partner at Odgers Berndtson, who specializes in financial services with a focus on alternative asset management, investment banking and private equity.

Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media

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