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SWFI – Movers and Shakers – September 11, 2017

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Washington University Investment Management Company Names New CIO – Scott L. Wilson

Washington University Investment Management Company (WUIMC) appointed Scott L. Wilson as chief investment officer (CIO), effective December 1, 2017. Wilson is currently CIO at Grinnell College. He is succeeding Kimberly G. Walker who stepped down as CIO of WUIMC in 2016. In his current role, Wilson manages the investment strategy for Grinnell’s nearly US$ 2 billion endowment. Wilson’s previous experience also includes positions at Credit Suisse First Boston Equity Research in Chicago; Merrill Lynch Technology Equity Research Group in San Francisco; Bank of America Securities in London and Tokyo; and Barclays Capital Japan, where he served as head of the Asia Interest Rate Option Trading Desk.

J.P. Morgan Asset Management Hires Karen Ward Former HSBC Chief European Economist

J.P. Morgan Asset Management named Karen Ward as chief marketing strategist for Europe and the United Kingdom. She will start in the role at the end of November 2017. Ward replaces Stephanie Flanders who exited in June 2017 for a role at Bloomberg Economics. Karen Ward was previously Chief European Economist at HSBC Global Banking and Markets.

Thomas Poullaouec to Head Multi-Asset Solutions in APAC for T. Rowe Price

Thomas Poullaouec was named as Head of Multi-Asset Solutions in Asia-Pacific for T. Rowe Price. He is based in Hong Kong and report to Peter Austin, the firm’s global head of multi-asset solutions. Poullaouec will remain on the firm’s multi-asset investment team. Poullaouec had roles at State Street Global Advisors (SSgA) and BNP Paribas.

Angeles Investment Advisors Hires Derrick Cruz

Angeles Investment Advisors named Derrick Cruz as Director of Private Markets. He will report to Shana Mulkerin, Partner at Angeles Investment Advisors. Before this role, Cruz was Vice President at Victory Park Capital Advisors.

Trivedi Family Office Hires BlackRock Employee as Director of Investments

Trivedi Family Office, the family office of Ashok Trivedi (founder of Igate), hired Joseph Lloyd as director of investments. Previously, Lloyd was at BlackRock.

Frank Maret Named Head of Marketing at Unigestion

Frank Maret was named Head of Marketing at Unigestion SA. Previously, Maret was Head of Distribution at Canada Life Investments. Maret replaces Jean Francois Hirschel in the role at Unigestion.

Robeco Hires Maureen Beshar

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LAPFF Explores Direct Real Estate Investing

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The Los Angeles Fire and Police Pensions (LAFPP), a smaller pension compared to its larger peers such as the Los Angeles County Employees Retirement Association, is considering forming a direct real estate investment strategy that would be managed internally. LAPFF staff requested the pension’s real estate consultant The Townsend Group to explore the feasibility of creating an in-house real estate managed portfolio.

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Could Russian Government Opt for Some Cryptocurrencies over Treasuries?

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The problem with fiat money is that it is backed by governments and countries, subject to the whims of policymakers versus a tangible item like gold. Russia has sold nearly US$ 100 billion worth of Treasury bills, bought gold, yuan, and other non-U.S. dollar currencies, and saved a significant allocation that may be earmarked for Bitcoin. These moves are intended to help Russia evade U.S. sanctions. Vladislav Ginko, an economist at the Russian Presidential Academy of National Economy and Public Administration, noted that the government is working to “protect its national interests” since fewer U.S. dollars are expected to flow into the country in exchange for oil and gas. Ginko estimates the crypto investment at US$ 10 billion. If enacted, Bitcoin could spike on the purchase. Purchases could begin at any time. The Central Bank of Russia has not yet discussed its intentions. However, six months after making any financial transactions, the bank publishes them. If Russia were to carry out the plan, it would swallow over 15 % of the world’s Bitcoin.

Financial technology companies continue to built out platforms to service institutional clients. For example, San Francisco-based Anchorage, cryptocurrency custody service, raised US$ 17 million in a Series A round that was led by Andreessen Horowitz and joined by Khosla Ventures, Max Levchin (co-founder of PayPal), Elad Gil, Mark McCombe of Blackrock (Senior Managing Director, Head of the Americas region), and AngelList’s Naval Ravikant.

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PSP Investments Allocates Capital to Specialty Insurance Brokerage

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Public Sector Pension Investment Board (PSP Investments) made an investment into Newport Beach, California-based Alliant Insurance Services, Inc. In addition, funds managed by Stone Point Capital LLC also made an investment into Alliant Insurance Services. Post-transaction, funds managed by Stone Point Capital LLC will remain Alliant’s largest institutional shareholders while the company’s management and producers will continue to own the majority of the firm.

Alliant Insurance Services provides property and casualty, workers’ compensation, employee benefits, surety, and financial products and services to clients nationwide, including public entities, tribal nations, healthcare, energy, law firms, real estate, construction, and other industry groups.

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