Marie Berggren, the long-time chief investment officer (CIO) of the University of California’s $80bn investment portfolio, has retired suddenly, citing personal reasons.
The former CIO gave no notice of her retirement, who informed the UC’s governing board of her intended departure two days before leaving the UC system on 2 July, according to news provider CNN.
Berggren joined UC in 2002 from a venture capital background, and was promoted to CIO four years later. During her 11 year tenure, Berggren would oversee an investment portfolio, including retirement, endowment and cash assets, totalling around $80bn.
Mark Yudof, president at the University of California, said: “We are grateful to Marie Berggren for her years of dedicated service as chief investment officer and the many contributions she has made to the University of California. The Board of Regents and I wish her a healthy and fulfilling retirement.”
An interim CIO will be appointed at the governing board’s July meeting.
