The Number 1 Reason Institutions Fire Their OCIOs (Institutional Investor)

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Institutional Investor recently featured North Pier’s managing partner, Jim Scheinberg & senior consultant Greg Metzger in its article on the top reason why institutions end up firing their OCIO.

Institutions aren’t firing their outsourced chief investment officers (OCIOs) because they’re dissatisfied with performance.

Instead, the top motivation for switching from one OCIO to another is communication — or lack thereof — according to industry consultants.

The biggest culprits? OCIOs that mislead clients about investment strategy or underdeliver in communication frequency, according to Jim Scheinberg, founder of North Pier Search Consulting, which advises institutions through the OCIO hiring process.

“What we’ve heard more than anecdotally is that the consultant may talk a lot about topics and themes, but then doesn’t do any implementation,” Scheinberg said in an interview Tuesday. “They don’t follow through with actionable policy changes.”

Read the full article here.

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