In this episode of The CIO Chair, Sean Thompson and Hartej Singh are joined by Gerald Chen-Young, Chief Investment Officer of the National Public Pension Funds Association (NPPFA). Gerald oversees an internal portfolio while advising public pension systems representing police, fire, and teacher plans with nearly $1 trillion in combined assets.

Gerald reflects on his unusual career path, combining advanced training in economics and law. He explains how this combination has shaped his investment philosophy and fiduciary decision-making.

We explore asset-liability matching across different pools of capital, highlighting why each mandate requires its own investment framework. Gerald discusses the importance and limits of investment policy statements, arguing that IPSs should act as guidelines rather than rigid rulebooks. Drawing on the Global Financial Crisis and COVID-era market dislocations, he shares real-world examples where disciplined exceptions created long-term value.

Gerald also addresses diversification, private assets, and risk, cautioning against confusing reduced visibility with reduced volatility. He offers a nuanced view on ESG, responsible investing, and the political tensions surrounding these approaches in the US.

He shares his perspective as a newly appointed adjunct professor at Georgetown University, highlighting the importance of education in preparing the next generation of investment professionals.

We conclude with insights on global investing, emerging markets, academia’s role in developing future investors, and Gerald’s legacy as a CIO, defined by intellectual rigour, resilience under scrutiny, and work that stands the test of time!

https://www.cioinvestmentclub.com/

https://www.linkedin.com/company/cio-investment-club/posts/?feedView=all

In this episode of The CIO Chair, Sean Thompson and Hartej Singh are joined by Rob Groves, Chief Investment Officer of Pension Insurance Corporation (PIC), to discuss how insurers invest to secure defined benefit pensions over the long term. Rob shares his career journey from actuarial training through consulting and banking to leading investments at one of the UK’s largest pension insurers.

The conversation explores PIC’s investment philosophy, including Rob’s scepticism of rigid strategic asset allocation. Instead, he outlines a flexible, optionality-driven approach focused on finding the best risk-adjusted opportunities across public and private credit, while continuously optimising the portfolio with a long-term mindset.

Culture and leadership feature strongly and Rob shares what he looks for when building investment teams, why collaboration and curiosity matter more than ego, and the importance of trusting judgment during difficult investment decisions.

The episode also covers lessons from the 2022 LDI crisis, market uncertainty, investing in the UK economy, and the growing role of technology and AI. Rob closes by reflecting on the legacy he hopes to leave as CIO: strong teams, a resilient culture, and dependable outcomes for pensioners.

Follow 'cio investment club' on LinkedIn, X, and Threads, and visit www.cioinvestmentclub.com for upcoming episodes and exclusive insights.

https://www.cioinvestmentclub.com/

https://www.linkedin.com/company/cio-investment-club/posts/?feedView=all

In this episode, Gallagher UK's Chief Investment Officer Pete Drewienkiewicz shares practical insights into how CIOs make strategic decisions in today’s evolving institutional investment environment.

Pete explains how governance frameworks, behavioural finance principles, and disciplined risk budgeting help chief investment officers navigate uncertainty and build portfolios that support long-term objectives.

Drawing on decades of experience across investment banking, manager research and consultancy, Pete offers a transparent look at the mindset and processes behind effective investment leadership. He discusses the challenges of manager selection, the growing role of private markets, and the influence of political and regulatory uncertainty on UK investing. Pete also speaks openly about luck, career turning points, and the importance of problem-solving as a defining trait of an effective chief investment officer, along with the legacy he hopes to leave as a CIO.

Packed with practical wisdom and real-world honesty, this episode is essential listening for current and future investment leaders.

Follow 'cio investment club' on LinkedIn, X, and Threads, and visit www.cioinvestmentclub.com for upcoming episodes and exclusive insights.

https://www.cioinvestmentclub.com/

https://www.linkedin.com/company/cio-investment-club/posts/?feedView=all