Ohio State announces new chief investment officer
Columbus, Ohio – John C. Lane has been named vice president and chief investment officer (CIO) for The Ohio State University. In this position, Lane will manage the university’s $3.4 billion long-term investment pool, which includes a $1.7 billion endowment. Lane’s appointment, which will be officially confirmed by the Board of Trustees at its next meeting, is effective Oct. 29.
At Ohio Public Employee Retirement System (OPERS), Lane served as director of investments since 2010, overseeing an $89 billion fund and a staff of 58 investment professionals.
“The university is committed to providing affordable, high-quality education for generations to come,” said Ohio State President Michael V. Drake. “John possesses the expertise and sense of public purpose to ensure we continue to be outstanding stewards of our financial resources and the gifts entrusted to us by our generous donors.”
Ohio State created the position of CIO in 2008 to manage the long-term financial assets of the university. The office is tasked with the management of the Long Term Investment Pool, a diversified portfolio that contains pools of capital that includes the university endowment, the foundation endowment and operating funds. The portfolio generated a net return of 14.4 percent in fiscal year 2014.
“John Lane has demonstrated excellent results throughout his career and I am confident he will lead us to a new level of performance,” said Geoff Chatas, senior vice president and chief financial officer, to whom Lane will report in his new role. He possesses the expertise to assure that the university succeeds in its responsibility to the public and our supporters to maximize investment returns.”
Prior to his role at OPERS, Lane was director of pension investments for Eastman Kodak Company from 2002-10, and had a 12-year career as chief investment officer for the Pennsylvania Public School Employees’ Retirement System. He received his bachelor of science and MBA degrees from LaSalle University.
“I’m impressed by the strong commitment the university has to growing the resources of this great institution,” said Lane. The Ohio State administration has the talent and creativity to achieve a world class financial performance, and I look forward to leading the investment endeavor.”
Ohio State’s long-term investment pool was ranked 24th among all universities base upon asset size and 7th for public institutions in the NACUBO 2013 National Endowment Study. See http://www.nacubo.org/Research/NACUBO-Commonfund_Study_of_Endowments/Public_NCSE_Tables.html for the full report.
About The Ohio State University
The Ohio State University is a dynamic community of diverse resources, where opportunity thrives and where individuals transform themselves and the world. Founded in 1870, Ohio State is a world-class public research university and the leading comprehensive teaching and research institution in the state of Ohio. With more than 64,000 students (including 58,000 in Columbus), the Wexner Medical Center, 14 colleges, 80 centers and 175 majors, the university offers its students tremendous breadth and depth of opportunity in the liberal arts, the sciences and the professions.