Hirtle Callaghan Appoints Nagaswami as Chief Executive Officer

Aug 9 2016 | 4:27pm ET

OCIO specialist Hirtle Callaghan has named former Corsair Capital executive Ranji Nagaswami as CEO, further strengthening its management team. 

Nagaswami has spent the majority of her almost 30-year career leading businesses as a senior executive, advisor and strategist in both the private and public sectors, the company said in a statement. She was most recently operating partner and senior advisor at Corsair Capital, and a strategist with Bridgewater Associates. From 2010 to 2012, she was CIO in the Bloomberg administration for the City of New York's $150 billion collection of employee retirement systems. Beforehand, she was CIO within the Blend Strategies team of AllianceBernstein L.P., and earlier was CIO of AllianceBernstein Investments.  She joined Sanford C. Bernstein in 1999 and started her career at UBS Asset Management, where her last role was Managing Director and Co-Head of U.S. Fixed Income. 

Co-founder and CEO Jon Hirtle will remain executive chairman, the statement said, and continue to work full time with clients and on strategy.

"In Ranji, we have a CEO with world-class industry expertise who shares our firm's core values and investment philosophy," Hirtle said. “She is an exceptional leader and an extraordinarily talented investment industry executive; we are thrilled to have her join us as CEO.  She brings tremendous additional strength to our executive team as we enter the next phase of our firm's development and growth.”

Founded in 1988 and based in Philadelphia, Hirtle Callaghan is widely considered to have pioneered the outsourced chief investment officer model, a service offering designed to provide conflict-free CIO and investment department skills to family offices and institutions that did not want to manage and pay for internal staff.

As an organization of CIOs, the company sells no products, instead pooling purchasing power and aggregate expertise to design and manage custom-designed investment programs for family and institutional investors.

These programs are executed through independent money managers, specialized index funds, multi-manager hedge fund and private equity pools, as appropriate. The company supervises more than $20 billion of family, endowment, foundation, healthcare and pension assets in 46 states.


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