Wilshire Associates recently made a pair of personnel moves designed to bolster its relationships with institutional and professional investors, and expand its presence in the alternative investments space. Wilshire, which was founded in 1972, is divided into several business units, including:
- Wilshire Analytics
- Wilshire Consulting
- Wilshire Funds Management
- Wilshire Private Markets
On June 1, Wilshire Consulting named a new CIO. A week later, Wilshire Funds Management hired a new Managing Director and Head of Alternative Portfolio Management. Wilshire boasts a roster of more than 300 employees serving the needs of investors around the world.
Wilshire Consulting Names New CIO
Wilshire Consulting is the institutional advisory unit of Wilshire Associates, well known for its consulting relationships with large pension funds, as well as its outsourced-CIO services. Earlier this month, the unit named longtime Managing Director Steven J. Foresti its new Chief Investment Officer. The promotion will reinforce Mr. Foresti’s role in “harnessing Wilshire’s investment and manager research into actionable recommendations for Consulting non-discretionary and OCIO clients,” according to a company statement.
“Steve has been deeply involved in developing Wilshire’s capital market assumptions and publishing strategic investment research on behalf of Wilshire clients,” said Wilshire Consulting President Julia K. Bonafede. “This direct experience makes Steve the ideal person for this new role. In many ways, he has performed the activities of a CIO for years and his appointment simply formalizes his responsibilities.”
Mr. Foresti, who has been with Wilshire Associates since 1994, will continue to be the head of Wilshire Consulting’s Investment Research Group. Prior to joining Wilshire Associates, Mr. Foresti spent nine years at Wilshire Analytics, where he helped develop quantitative attribution and risk models within the Wilshire Quantum series of analytics. More recently, he has worked directly with large institutional investors, including pension funds, foundations, endowments, and insurance companies. He called serving as Wilshire Consulting’s new CIO “an honor.”
“I recognize how fortunate I am to have the opportunity to work alongside such an incredibly talented group of investment professionals,” Mr. Foresti said. “I take great pride in helping to channel the creativity that results from our collaborative research process and in packaging those ideas into valuable insights on behalf of clients who have placed their trust in Wilshire.”
Wilshire Funds Management Names Head of Alternatives
One week after Wilshire Consulting named Mr. Foresti its new CIO, another division of Wilshire – Wilshire Funds Management – named a new Managing Director and Head of Alternative Portfolio Management: Nicolas “Nico” Amato.
“Nico’s 17 years of experience, most of that focused on alternative investments, will immediately enhance the work we are doing as a premier provider of hedge fund managed accounts, customized risk premia strategies and liquid alternatives,” said Jason Schwarz, president of Wilshire Funds Management, in a June 9 press release. “Nico’s research, risk management and portfolio construction experience will be a huge benefit to our growing alternatives team.”
Mr. Amato, who comes to Wilshire after a decade at Dorchester Capital Advisors, will direct all of Wilshire Funds Management’s alternatives activities, which include: portfolio construction, manager research, and investment research. At Dorchester, where Mr. Amato was a partner, he managed the firm’s research and risk teams, and conducted due diligence on a wide range of hedge fund strategies inlcuding relative value, credit, event-driven, long-short equity, short-biased and CTA / global macro strategies.
In his new role, Nico will report to Wilshire Funds Management CIO Josh Emanuel, who was recently hired from Elements Financial Group where he also served as CIO.
For more information, visit wilshire.com.