MacIntyre will be stepping into a role Pareto created due to growth in its business, according to an IP&E report. Combining MacIntyre’s experience in investment management and the fact Pareto has not appointed senior figures from outside the company in some time, Pareto chief executive Mitchell Harris saw it as a good fit.
“Given Des’ background in pension funds and investment management, and his experience of working in the US and the UK, his skill base suits us well,” Harris told IP&E.
MacIntyre’s background includes stints as chief financial officer at General Motors’ pension fund in the US, and at Asset International, the parent company ofPLANSPONSOR.com.
In May 2001, he joined Deutsche Asset Management as head of European pensions strategy group, which he left at the beginning of this year. MacIntyre then did a brief spell as chief investment officer of New York City Retirement Systems in the Bureau of Asset Management (BAM ) before an abrupt departure after only four weeks on the job . The spin at the fund is that a personality conflict between MacIntyre and deputy comptroller for pensions Horatio Sparkes was the root cause of his departure, while MacIntyre said that his departure was friendly.
MacIntyre’s departure may also have been hastened by the city’s $80 million securities lending imbroglio surrounding investment the city made inNational Century Financial Enterprises (See Controversy Swirls Around NYC Pension Fund ). As of yet, the situation has not been resolved between the city and its custodian Citibank, although Thompson earlier told PLANSPONSOR.com he does not anticipate the city taking the hit (See NYC Pension Costs To Surge 29% Annually ).