JDG Associates Places CIO and CTO at Federal Retirement Thrift Investment Board

April 11, 2018 – In the U.S., public sector pensions are offered by federal, state and local levels of government. They are available to most, but not all, public sector employees. The field has been about as robust for executive recruiters as any other related sector within financial services.

Rockville, MD-headquartered executive search firm JDG Associates recently recruited Sean McCaffrey as chief investment officer and Vijay Desai as chief technology officer of the Federal Retirement Thrift Investment Board in Washington, D.C. President Darren DeGioia led the assignments.

Mr. McCaffrey has spent the past three years as the deputy CIO for the agency and prior to that worked at Deutsche Bank for 18 years. He is an experienced top-tier global asset management organization executive with a track record of establishing investment policy at an institutional level, setting asset allocation, generating portfolio investment performance, managing risk and building and leading multiple investor teams across diverse segments globally.


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Mr. Desai is a senior executive with 30 years of federal and private sector experience. He has multi-disciplinary skills including complex IT project/program management, strategy development and implementation, business process improvement and complex change management. Previously, he was head of IT operations at the Consumer Financial Protection Bureau, where he was responsible for management and oversight of 170 federal staff plus 200 contractors within the Bureau’s IT office, all focused on maintaining and securing its IT assets and infrastructure. He has worked in other senior-level positions for firms such as North Highland Consulting, Capital One and Booz Allen Hamilton.

Related: EFL Associates Finds New Leader for Illinois Municipal Retirement Fund

The Federal Retirement Thrift Investment Board is an independent federal agency responsible for administering the Thrift Savings Plan (TSP). It helps federal employees and members of the uniformed services retire by providing benefits similar to private sector 401(k) plans. The organization’s mission is to administer the TSP solely in the interest of its participants and beneficiaries. The TSP is one of the world’s largest defined contribution plans, managing over $480 billion for more than 5 million participants.

Celebrating 45 Years

JDG Associates has been providing executive recruitment services to Fortune 1000 corporations, associations and non-profits, federal, state and local governments, research & consulting firms and defense contractors since 1973.

Related: Korn Ferry Recruits CIO for Indiana Public Retirement System

Mr. DeGioia has spent 16 years conducting senior-level search assignments for research and consulting organizations as well as the public sector. His areas of expertise include information technology, accounting and finance, the quantitative sciences, operations / general management, marketing and communications.


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JDG Associates recently celebrated 45 years in business. The firm’s research-intensive process and personal approach have resulted in more than 4,000 senior-level searches across a broad spectrum of industries and disciplines in the Washington, D.C. region and nationally.

“While we have diversified our practice areas throughout the years, we have never lost sight of the fact that we are accountable for each search engagement,” said Mr. Mr. DeGioia. “We are performance-driven and never waver on our promise to build long-term, mutually rewarding partnerships. Although much has changed in the executive search industry, one thing remains constant: Our mission to deliver the best candidates to our clients.”

Related: Heidrick & Struggles Leading a Double Search for Illinois State Universities Retirement System

Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Will Schatz, Managing Editor – Hunt Scanlon Media

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