Berg begins in his new role managing the University’s permanent funding sources on October 1.
Geoffrey Berg, the chief investment officer of the South Carolina Retirement System Investment Commission (RSIC), has been named University of Rochester senior vice president and chief investment officer, effective October 1. Berg succeeds Doug Phillips, who will retire on September 30.
As a member of the President’s Senior Leadership Group with the critically important responsibility of managing the University’s permanent sources of funding, Berg will work closely with the Board of Trustees’ Investment Committee and lead a staff of nine in the Investment Office to oversee the University’s investments, which consist of a $3.7 billion long-term pool, nearly $1 billion in operating capital, and $300 million in pension plans.
“Geoff is highly qualified and will undoubtedly continue the success of our investment program, building upon the strong foundation in place,” says President Sarah Mangelsdorf. “His leadership and engagement will be essential to the success of our upcoming capital campaign, as well as our Boundless Possibility strategic plan, both of which support our ambitions for the future. He brings a wealth of experience in investment management and a strong track record of strategic leadership in complex financial environments, and I look forward to working with him.”
Berg has served as CIO of RSIC since 2016. He was named chief investment officer after serving for a year in an interim role with the commission, which directs investments of South Carolina’s roughly $50 billion in pension assets. As CIO, Berg has led significant restructuring of the South Carolina Retirement investment program, which improved returns versus both its benchmark and peers. He developed and implemented top-down asset class blueprints to establish clarity and alignment by highlighting the target portfolio, core principles, and key initiatives for each asset class. At the same time, he implemented a decision-based performance analysis framework to attribute the impact of major investment decisions: asset allocation, portfolio structure, and manager selection. He began at RSIC in 2008 and has held several positions of increasing responsibility and investment management leading up to his appointment as CIO.
“I am thrilled to join the University of Rochester. It is an honor to lead the Investment Office and to serve the community,” said Berg. “I am fortunate to inherit a strong foundation established by my predecessor, Doug Phillips. I look forward to working with President Mangelsdorf, the senior leadership team, as well as the Investment Committee.”
Berg received a bachelor’s degree in English from Georgetown University and an MBA in finance from the University of Iowa’s Henry B. Tippie College of Business. He is also a CFA Charterholder.
“I want to welcome Geoff to the University and congratulate him on his appointment,” says University Trustee Naveen Nataraj ’97, who led the national search and who also heads the Board’s Investment Committee. “I’d like to recognize and thank the search committee and the University leaders for selecting a candidate with such impressive experience and credentials. The Investment Committee and I look forward to working with him in the years to come.”
