Mercer has appointed Kenneth Shimberg as US Endowment & Foundations (E&F) Chief Investment Officer for outsourced CIO services.
Shimberg joins a dedicated team of not-for-profit professionals and will serve as chair of the E&F Investment Committee, which develops strategy and tactics for Mercer’s nonprofit client portfolios. In this position, he will leverage nearly 20 years of industry experience to improve outcomes for nonprofit organizations.
“As our E&F business continues to grow, we felt creating this role for Ken would enhance the level of service we bring to our client base,” says Stan Mavromates, Americas CIO for Mercer Investments, to whom Shimberg will report in Boston. “Ken brings with him extensive endowment experience and we expect his knowledge will bring an added value for our nonprofit clients who will be able to benefit from Ken’s years of experience working in this area.”
A graduate of the Massachusetts Institute of Technology, Shimberg comes to Mercer from Brown University, where he held the position of managing director in the investment office for many years and acted as interim CIO from October 2012 to June 2013. He previously served as a principal at the Princeton University Investment Company, spent time at Nassau Capital LLC, and worked at J.P. Morgan as a vice president in the Structured Finance Group.
Mercer’s nonprofit team delivers custom investment solutions to endowments, foundations and hospital groups.