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LOS ANGELES (March 8, 2010) – The California Endowment today announced the appointment of Ruth Wernig, CFA, as Chief Investment Officer for the state’s largest, private health foundation. Wernig, who has 24 years of experience in finance, will oversee the investment management of the organization’s nearly $3.2 billion endowment and manage a staff eight investment professionals and administrative staff, among other activities. Wernig replaces Jesse Casso, Jr., who has been serving as Interim Chief Investment Officer since 2009.
“The Board of Directors and I are thrilled to have Ruth leading our team of investment professionals,” said Robert K. Ross, M.D., president and CEO of The Endowment. “Our investment team will play a critical role as we move forward with our 10-year strategic plan, Building Healthy Communities, which aims to improve the socioeconomic and environmental conditions that affect the health of children in 14 of California’s economically challenged communities.”
Prior to her appointment at The California Endowment, Wernig served for six years as the Treasurer for the University of Southern California (USC) for which she managed a team of seven investment professionals and managed a $3.0 billion endowment, as well as $870 million in working capital, pension and life income assets. Wernig, who first began her tenure at USC as a Treasury Associate in 1994, also served as Associate Treasurer (1998-2004) and Assistant Treasurer (1995-1998) for the university.
“I am particularly excited by The Endowment’s desire to expand its investment team’s focus on finding ways to leverage mission-related investments to help boost economic development in California’s richly diverse communities,” said Wernig.
Wernig also served as a financial analyst for the RAND Corporation (1992-1994) and as both a Corporate Accounting Analyst (1986-1988) and Senior Cost Analyst (1988-1992) for State Street Bank in Boston, Massachusetts.
The California Endowment, a private, statewide health foundation, was established in 1996 to expand access to affordable, quality health care for underserved individuals and communities, and to promote fundamental improvements in the health status of all Californians. The Endowment makes grants to organizations and institutions that directly benefit the health and well-being of the people of California. To date, The Endowment has awarded over 11,000 grants across California totaling more than $2 billion. For more information, visit The Endowment’s Web site at www.calendow.org. |
