Wurts Nabs Alaska Duo, Including Ex-Tahoma Chief

Jun 14 2011 | 2:00am ET

Wurts & Associates have hired the heads of the Alaska Permanent Fund—former hedge fund executives both—to lead its outsourcing business.

Jeffrey Scott, chief investment officer of the $40.3 billion Alaska fund since 2008, and Max Giolitti, its director of asset allocation, will join Seattle-based Wurts in August. Scott will serve as its first CIO and Giolitti as director of risk allocation.

Scott and Giolitti ran their own hedge fund, JCS Advisors, prior to joining the Alaska sovereign wealth fund. Prior to founding that firm, Scott was CEO and CIO of hedge fund Tahoma Partners, and formerly managed a $60 billion absolute return portfolio for Microsoft Corp.

"Jeff’s background in risk management, alternative investments, and his personal leadership qualities are truly exceptional,” Wurts CEO Jeff MacLean said. “Conventional wisdom needs to be challenged in how we allocate assets and manage risk in portfolios. Jeff’s well established background and thought leadership will help Wurts & Associates redefine how institutional investors should allocate their assets relative to liabilities and objectives."

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