Doñé named Deputy Comptroller, CIO at NYC’s Bureau of Asset Management

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New York City Comptroller Scott Stringer named Alex Doñé to help manage the nation's fourth-largest public pension fund, promoting the 25-year financial services veteran to Deputy Comptroller and Chief Investment Officer of the city's Bureau of Asset Management.

In his new job, Doñé will buttress the comptroller’s role as investment advisor to the New York City Retirement Systems. The five systems have $200 billion in assets and over 700,000 members, retirees and beneficiaries.
“Leading the Bureau of Asset Management is one of the most critical positions in the city," Stringer said Monday in announcing the appointment. "The team works every day to ensure that New Yorkers who have devoted their lives to public service are able to retire with dignity and confidence. I’m thrilled to announce that Alex Doñé will serve in this role and lead the bureau’s efforts to be a prudent steward of the pension investments and safeguard the retirement security of our beneficiaries and their families.”

The city's five main pension funds are the New York City Employees' Retirement System (NYCERS); the Teachers' Retirement System of the City of New York (TRS); the New York City Police Pension Fund Subchapter 2; New York City Fire Department Pension Fund Subchapter Two; and the New York City Board of Education Retirement System (BERS).

Doñé joined the bureau in 2012 and has served as executive director of private equity, the head of private equity, deputy chief investment officer – private markets, and most recently as the interim chief investment officer. Since July, Doñé oversaw the roll-out of diversity initiatives, including the launch of a search for an investment manager to source and invest in first-time funds and early-stage firms managed by emerging managers across multiple asset classes and an expansion of BAM’s MWBE Broker-Dealer program. In addition, he is leading an effort to diversify the pension funds’ portfolios into co-investments.

“It's an honor and a privilege to be entrusted with protecting the retirement security of New York City's public employees and families," said Doñé. “I am grateful to Comptroller Stringer for the opportunity to serve New York City and look forward to working with my colleagues in the Bureau of Asset Management and all of the systems' trustees to continue strengthening and improving the city's pensions.”

The city’s general obligation bonds are rated Aa2 by Moody's Investors Service and AA by S&P Global Ratings and Fitch Ratings. As of June 30, NYC’s outstanding GOs totaled $38.63 billion.

Doñé has 25 years of experience as an investment manager, private equity investor and investment banker and worked as a strategic advisor and executive manager in the arenas of both government and the private sector.

Before joining the comptroller’s office, Doñé served for two years in the Obama administration as a presidential appointee at the U.S. Department of Commerce – Minority Business Development Agency, where he led business development operations across five regional offices nationwide. Before that, he was a consultant to a private equity firm and a Director at KPMG Corporate Finance, where he led the retail industry mergers and acquisitions group. Doñé also spent 11 years at Merrill Lynch as an investment banker in a number of sectors, and internationally.

Doñé holds an AB from the Woodrow Wilson School of Public and International Affairs at Princeton University.

“I know that Alex’s own commitment to public service, the combination of his depth of experience and drive, his commitment to maximize risk-adjusted returns, as well as his dedication to transparency and diversity initiatives will benefit the Bureau of Asset Management, the New York City Pension Funds and New Yorkers throughout the five boroughs,” Stringer said.

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Public pensions Primary bond market MWBEs Scott Stringer New York City Pension Funds City of New York, NY New York