PHILADELPHIA--(BUSINESS WIRE)--Jonathan J. Hirtle, president and CEO of Hirtle, Callaghan & Co., has been dubbed the ‘Oracle of Outsource’ by Pensions & Investments in recognition of his pioneering work in investment outsourcing. In a profile in its August 22 edition, the international newspaper of money management cites Hirtle’s 23-year history in what is now becoming one of the most significant movements in asset management.
Hirtle, Callaghan & Co. was the country’s first dedicated outsourced CIO (OCIO) firm and now manages $20.6 billion in assets for 250 clients, both family and institutional investors.
In the recent interview, Hirtle said growing interest in outsourcing is a function of global investment complexity. “When I started in the business 30 years ago, everything was simpler,” Hirtle commented. “Today, serious investors are questioning how to fulfill their traditional fiduciary responsibilities in a world that has reached a tipping point of complexity - without having to amortize the cost of an entire internal investment department. Outsourcing that responsibility to a sophisticated, conflict-free, solution-oriented asset management firm is the answer.”
Kevin P. Quirk, founding partner and principal of Casey, Quirk & Associates LLC and publisher of The New Gate Keepers, anticipates that the non-profit assets in the outsourcing space will increase from approximately 200 billion dollars today to half a trillion dollars by 2015.
Tom Livergood, Founder and CEO of Family Wealth Alliance, added, “Family Wealth Alliance’s research indicates an increasing use of outsourcing, especially by Single Family Offices (SFOs). More than one-third of SFOs currently outsource some component of their investment program. We recognized Jon Hirtle and Hirtle Callaghan as a leader in this space, eight years ago, in our inaugural conference on ‘Strategic Outsourcing.’ While outsourced CIO is a newly recognized trend, Hirtle Callaghan has been doing this for more than 20 years and they are not new to this game. In Family Wealth Alliance’s inaugural ‘External Chief Investment Officer Study,’ released earlier this year and highlighted at the Alliance spring event in May, we asked Hirtle Callaghan to speak once again on a panel in recognition of their leadership in this business.”
About Hirtle, Callaghan & Co.: America’s First Outsourced Chief Investment Officers™
With $20.6 billion under direct supervision and recognition as one of the Top 20 Wealth Managers, Hirtle Callaghan has become one of America’s fastest-growing investment firms. Known as “Wall Street idealists” for combining performance intensity with a genuine fiduciary ethos, Hirtle Callaghan manages complete, globally diversified, multi-manager investment programs emphasizing the significance of strategy and risk management at every step of the process.
Now in its 23rd year, Hirtle Callaghan sets a new investment standard – complete objectivity, the insight and discipline of a professional Chief Investment Officer supported by a fully staffed investment department and high-touch professional service – an approach previously available to only the largest, multi-billion dollar family groups and institutions.