A press release stated that Giolitti will serve as Director of Risk Allocation, and Scott joins Wurts to lead the firm’s discretionary investment practice.
Scott has served as CIO of the Alaska Permanent Fund for nearly three years, and has more than twenty years of investment experience. He previously acted as Assistant Treasurer at Microsoft, where he worked with Giolitti, then the Director of Quantitative Analysis. The two recently worked together again after Scott was selected to be the CIO for the APFC, where Giolitti was the Director of Asset Allocation and Risk, in 2008.
According to the announcement, Scott will continue with the APFC through early August and officially join Wurts & Associates shortly thereafter where he will focus on leading the investment professionals and managing the company’s discretionary business. Giolitti will support the consulting team and the implementation of risk management solutions for discretionary clients.
“We are thrilled to have Jeff and Max join Wurts & Associates,” said Wurts CEO, Jeff MacLean, in the announcement. “Conventional wisdom needs to be challenged in how we allocate assets and manage risk in portfolios. Jeff’s well established background and thought leadership will help Wurts & Associates redefine how institutional investors should allocate their assets relative to liabilities and objectives.”