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2023 CIO Allocator Insights Webinar Series: Diversification
Investors are told to diversify their portfolios to reduce risk—using uncorrelated investments ensures that when some are down, others are up. However, that’s been harder to do in this market environment. For institutional investors with a long-term view toward guaranteeing payments to retirees or endowed institutions, achieving diversification means something different than a balance of stocks and bonds.
Join CIO for a discussion about how different institutional investors use different asset classes—and managers—to create a diversified portfolio.

Speakers:
Thomas Richards - CIO, Senior Associate Vice President for Finance, University of Missouri System
Jonathan Grabel - CIO, LACERA

01:01:00

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Speakers

Thomas Richards
CIO, Senior Associate Vice President for Finance, University of Missouri System
Tom Richards currently serves as Chief Investment Officer, responsible for the management of nearly $9 billion in total investment exposures across the University’s retirement, endowment and general operating funds. Richards had also served concurrently as Treasurer through September 2019, providing operating leadership and strategic direction for the University's cash management, debt and banking relationships across all four campuses and the health care system. Prior to his appointment as Treasurer by the Board of Curators in January 2011, he was responsible for the University’s financial reporting and taxation matters as well as all accounting for the treasury function. A veteran of more than 25 years of experience in the financial sector, Richards previously served as chief financial officer of a large multi-state community banking organization headquartered in Columbia, Missouri.
Jonathan Grabel
CIO, LACERA
Jonathan Grabel is the CIO for the Los Angeles County Employees Retirement Association (LACERA). Grabel manages a $74 billion defined benefit pension fund on behalf of LACERA's 185,000 active and retired members. He also oversees the investments for the LACERA-administered $2 billion health care benefits program. Prior to LACERA, Grabel was the CIO for New Mexico Public Employees Retirement Association (PERA), where he oversaw the investments for the agency’s $15 billion defined benefit fund and the associated PERA SmartSave deferred compensation plan. Previously, he was a general partner at a private equity firm focused on growth-stage investments in technology, networking industries, and digital communications. Earlier in his career, Grabel was an investment banker. Grabel received his BS in economics from the University of Pennsylvania Wharton School of Business and his MBA from the University of Chicago Booth School of Business. He is a CPA (inactive).

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