Exclusive: New York City investment chief to step down
Alex Doñé is stepping down as chief investment officer for New York City, Axios has learned.
Why it matters: Doñé oversees investments for pension systems that hold more than $250 billion, and cover around 700,000 current and former NYC employees and retirees.
Behind the scenes: Doñé was asked to remain in his position by Brad Lander, the city's incoming comptroller, but declined the request. He will leave at the end of the year.
- Doñé will be succeeded on an interim basis by deputy CIO Michael Haddad, with a nationwide search for a permanent replacement to be launched shortly.
- Staffers in the Comptroller Office's asset management unit were informed of the changes in a meeting on Tuesday.
Lander, a progressive Democrat, tells Axios: "The results over the past four years, during Alex's leadership, have been very strong... he's been a very good fiduciary and shown real leadership on fossil fuel divestment and corporate governance... I wish him well, and have full confidence in Mike Haddad."