Dec 10, 2021 - Politics & Policy

Exclusive: New York City investment chief to step down

Illustration of the inside of a NYC subway train with a map covered in dollar signs

Illustration: Sarah Grillo/Axios

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."

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