Key Takeaways
- • Cleveland Clinic has named Timothy Compan interim Chief Investment Officer following the departure of CIO Stefan Strein to the University of North Carolina's UNC Management Co., according to a spokesperson.
- • Compan has eight years at the Cleveland Clinic investment office, most recently as managing director for the fund's credit portfolio.
- • The Cleveland Clinic investment office manages $17 billion in long- and short-term assets, pension and insurance funds, plus $16 billion in defined contribution retirement assets.
- • Strein was the health care system's first CIO, starting in 2015 after the fund was insourced from an outsourced provider.
Summary
The Cleveland Clinic has named Timothy Compan as interim Chief Investment Officer, a spokesperson said, following the departure of CIO Stefan Strein to the University of North Carolina's UNC Management Co. The article does not specify whether an permanent successor search is underway.
Compan has been with the Cleveland Clinic investment office for eight years and most recently served as managing director for the fund's credit portfolio. Before joining the health system, he was a fixed-income portfolio manager at PNC Capital Advisors and an investment grade credit trader at Goldman Sachs Asset Management. He holds a bachelor's degree from Case Western Reserve University and an MBA from the Booth School of Business at the University of Chicago.
The Cleveland Clinic investment office manages $17 billion in long- and short-term assets, along with pension and insurance funds, and $16 billion in defined contribution retirement assets. Strein served as the health system's first CIO, beginning in 2015, after the fund was insourced. Previously, the funds were managed by an outsourced provider.
The leadership change is a continuity question for an institutional portfolio of this size, given that Strein's tenure marked the shift from outsourced to in-house management.
Compan has been with the Cleveland Clinic investment office for eight years and most recently served as managing director for the fund's credit portfolio. Before joining the health system, he was a fixed-income portfolio manager at PNC Capital Advisors and an investment grade credit trader at Goldman Sachs Asset Management. He holds a bachelor's degree from Case Western Reserve University and an MBA from the Booth School of Business at the University of Chicago.
The Cleveland Clinic investment office manages $17 billion in long- and short-term assets, along with pension and insurance funds, and $16 billion in defined contribution retirement assets. Strein served as the health system's first CIO, beginning in 2015, after the fund was insourced. Previously, the funds were managed by an outsourced provider.
The leadership change is a continuity question for an institutional portfolio of this size, given that Strein's tenure marked the shift from outsourced to in-house management.
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