New York City Comptroller Scott M. Stringer announced that Michael Haddad joined the public pension funds ’ Bureau of Asset Management as Group Head of Public and Tradeable Markets.
Comptroller Stringer also announced the promotion of Alex Doñé as head of Private Equity.
The Bureau of Asset Management serves as the investment advisor to the $162.1 billion New York City Pension Funds, which provide retirement benefits to more than 715,000 active and retired city government employees.
Well-respected investment professionals
In a statement, Comptroller Stringer described Mr. Haddad and Mr. Doñe as “two experienced investment professionals who will make an immediate impact at the Bureau of Asset Management.”
On the other hand, Scott Evans, Chief Investment Officer of the NYC Pension Funds said, “Alex and Michael are both well respected financial professionals, and I look forward to working closely with them as we set a strong foundation at the Bureau of Asset Management to build upon in the months and years ahead.”
Mr. Haddad is a former portfolio manager at Soros Fund Management. He also previously served in senior portfolio management positions at Caxton Associates and Morgan Stanley.
In addition to his career in the asset management business, Mr. Haddad had experience in public services as a member of the U.S. Treasury Borrowing Advisory Committee and the Treasury Market Practices Group sponsored by the New York Federal Reserve.
According to Comptroller Stringer, Haddad will be responsible for supervising the public equities, public fixed income, hedge fund, opportunistic fixed income, and short terms trading units of the Bureau of Asset Management.
Meanwhile, Mr. Doñé will be responsible for supervising the private equity, real estate, and infrastructure asset classes. He joined the NYC Comptroller’s Office in 2012. He previously served as head of the private equity asset class.
Prior to his tenure at the Comptroller’s Office, he worked as an investment banker and private equity investor at Clearlake Capital Group, KPMG Corporate Finance and Merrill Lynch & Co. He also served Presidential Appointee to the Barack Obama Administration at the U.S. Department of Commerce for more than two years.
Improving NYC Pension Funds
According to Comptroller Stringer, their priority is to improve the operations of the NYC Pension Funds. He is confident that the Mr. Haddas and Mr. Done’s talents, financial acumen, and leadership abilities will give the Bureau of Asset Management support and guidance it needs for the long-term benefit of the pension funds.