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Emory Investment Staffers Depart in Droves as New CIO Restructures Team

 


FundFire | June 26, 2019


The FundFire article, “Emory Investment Staffers Depart in Droves as New CIO Restructures Team," quoted Russell Reynolds Associates Consultant Deb Brown in which she offers her thoughts on why the university endowment may be losing talent. The article is excerpted below.

The offices at Emory Investment Management are getting emptier: The $7.2 billion endowment has seen at least eight people leave its investment team since the beginning of last year. That brings the overall investment team down to around 15 people, according to the office’s website.

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While it’s unclear if the departures at Emory have been a result of radical staff cuts or symptomatic of a talent retention problem at the endowment, recruiters say the university endowment space is a very active market.

“I think this universe is a rich hunting ground for recruiting strong asset allocation and investment talent in a world where multi-asset is in vogue,” says Deb Brown, executive recruiter and senior member of Russell Reynolds Associates’ investment management practice. Asset management firms can often afford to put together a more compelling compensation package, not rarely including equity, she says. That can lure talent away from university endowments.

“That’s why the ‘glue’ has to be more than money,” says Brown. “There needs to be a social contract,” like being an alumnus of the school, admiring academia, or aligning strongly with the institution’s mission.

To read the full article, click here.

 


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Emory Investment Staffers Depart in Droves as New CIO Restructures Team