April 12, 2016 – DHR International has placed Russell Read as chief investment officer of the Alaska Permanent Fund Corporation. He replaces Jay Willoughby at the Juneau, Alaska-based sovereign fund.
The search was led by Carol Hartman, managing partner of the firm’s financial services practice in North America, and partner James Schroeder. Her practice focuses on capital markets, asset management, regional and private banking, mortgage, risk / compliance, payments / financial tech and retirement income.
Ms. Hartman’s financial services practice group was recently inaugurated into the Hunt Scanlon ‘Financial Fifty,‘ a ranking of the 50 leading financial services search firms in the nation.
“I am pleased to welcome Russell to our team,” said Angela Rodell, chief executive officer of Alaska Permanent Fund. “He has more than 30 years of serving in various leadership roles in the investment industry, and most recently worked as the chief investment officer / deputy chief executive of the Gulf Investment Corporation (Kuwait).”
Mr. Read’s experience includes serving as CIO to CalPERS, heading up his own private equity firm, overseeing risk and product engineering programs for Oppenheimer Funds, and serving as deputy chief investment officer for Deutsche Asset Management.
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The Alaska Permanent Fund was created by referendum in 1976 to save a portion of the state’s oil revenue for the future. In 1980, the Alaska State Legislature created the Alaska Permanent Fund Corporation to manage the investments of the Permanent Fund outside of the State Treasury. The Fund is invested in a diverse portfolio of assets, including U.S. and non-U.S. fixed income securities, equities and real estate, as well as infrastructure, absolute return and private equity investments
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.
“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 Partners, a boutique specialist search firm which recruits senior and C-level professionals for the investment and wealth management sector.
DHR’s global financial services practice serves a wide range of financial services clients, including banks of all sizes, asset and wealth management firms, capital markets, hedge funds, endowments & foundations, private equity & venture capital firms, insurance companies, broker dealers, real estate firms, specialty finance companies and other diversified financial services organizations including mortgage, financial technology and payment firms.
The firm recently added 25-year financial services veteran Jeanne Branthover in New York as a partner. Ms. Branthover comes to DHR from Boyden, where she served as global financial services practice leader and also spearheaded the firm’s fintech subsector.
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media