The 2026 Elite Institutional CIOs celebrates exceptional Chief Investment Officers across Public Pension Funds, Endowments, Foundations, and Corporate Pension Funds in North America. This annual distinction honors CIOs who demonstrate outstanding leadership, disciplined investment acumen, and a forward-looking approach to navigating a rapidly evolving global market.
This year’s honorees have excelled amid shifting macroeconomic conditions, geopolitical complexity, evolving risk frameworks, and rising stakeholder expectations. They continue to strengthen long-term resilience, elevate portfolio construction and governance standards, and steward capital with purpose and accountability. Many have championed meaningful advancements in areas such as private markets, responsible innovation, enterprise-wide data and technology integration including the thoughtful use of AI, and mission-aligned investing.
The 2026 edition highlights seasoned CIOs who have shaped the direction of institutional investing over many years as well as emerging leaders who bring fresh perspective, strategic agility, and transformative vision to their organizations. Each has delivered measurable impact, whether through building high-performing investment teams, enhancing decision-making frameworks, or driving performance in alignment with institutional values and long-term objectives.
We are proud to recognize their leadership, dedication, and contributions to the institutional investment community, and we celebrate the influence they continue to have in shaping the future of asset management.
Sanjay Chawla serves as executive vice-president and chief investment officer at FM Global, where he oversees approximately $42.3B in general...
Sanjay Chawla serves as executive vice-president and chief investment officer at FM Global, where he oversees approximately $42.3B in general account and pension assets. Appointed CIO in 2018, Chawla leads the firm’s global investment strategy and advances its corporate sustainability initiatives.
For 2026, Chawla is focused on strengthening the investment team with an emphasis on top talent and advancing the firm’s adoption of emerging technologies, data, and intelligence tools. He is also increasing focus on digital infrastructure investments and maintaining a balanced approach to private credit.
Before joining FM Global, Chawla was vice-president and CIO of pension investments at Raytheon Co., overseeing the company’s global retirement assets. Earlier in his career, he spent more than 18 years at Dow Chemical, where he held senior leadership roles in portfolio investments, treasury, and global asset allocation, including international assignments in Singapore and India. He holds a Master of Business Administration degree in finance and marketing from Virginia Tech’s Pamplin College of Business and completed an executive leadership program at Duke University.
AUM
$42 B
LOCATION
Waltham
REGION
New England
TIME AT FUND
7 year(s)
Matt Clark
South Dakota Retirement System Public Pension Fund
Matt Clark serves as state investment officer for the South Dakota Investment Council, where he is responsible for managing nearly...
Matt Clark serves as state investment officer for the South Dakota Investment Council, where he is responsible for managing nearly $20B in assets for the state. Appointed to the role in 2005, Clark leads the investment office overseeing assets across the South Dakota Retirement System and other state funds. He joined the Investment Council in 1984 and was promoted to deputy investment officer in 2000 before assuming his current position.
For the upcoming year, Clark and his team are focused on reinforcing long-term investment disciplines in the face of short-term underperformance. Within equities, the team is assessing the scale of artificial intelligence investments that can be deployed profitably, while evaluating regulatory and government funding trends in healthcare.
Throughout his tenure, Clark has guided the development of several internally managed investment programs across public and private markets and has overseen the continued evolution of the state’s investment strategies. He serves on the South Dakota Retirement System Board of Trustees and the board of the National Association of State Investment Officers and is a past president of the South Dakota Investment Society.
AUM
$20 B
LOCATION
Sioux Falls
REGION
Mountain States
TIME AT FUND
41 year(s)
Benjamin Cotton
Pennsylvania Public School Employees' Retirement System Public Pension Fund
Benjamin Cotton serves as chief investment officer for the Pennsylvania Public School Employees’ Retirement System (PSERS), which manages approximately $74B...
Benjamin Cotton serves as chief investment officer for the Pennsylvania Public School Employees’ Retirement System (PSERS), which manages approximately $74B in assets on behalf of more than 500,000 active and retired members.
Before joining PSERS, Cotton served as senior managing director for the United Auto Workers Retiree Medical Benefits Trust, where he helped expand the Trust’s investment processes and oversaw public equity, fixed income, credit, cash, and derivative mandates. He previously held investment, treasury, and risk management roles at Ford Motor Co. and brings more than 25 years of corporate leadership and investment experience to his current role.
A U.S. Marine Corps veteran, Cotton earned a doctorate in education from Vanderbilt University’s Peabody College and holds a master’s degree in international management from the Thunderbird School of Global Management.
AUM
$81 B
LOCATION
Harrisburg
REGION
Pennsylvania
TIME AT FUND
3 year(s)
Scott Davis
Indiana Public Retirement System Public Pension Fund
Scott Davis serves as chief investment officer for the Indiana Public Retirement System (INPRS), which manages approximately $53B in assets...
Scott Davis serves as chief investment officer for the Indiana Public Retirement System (INPRS), which manages approximately $53B in assets across defined benefit and defined contribution plans. Since his appointment as CIO in 2016, Davis has led the investment team in advancing INPRS’ long-term strategy, fostering a strong investment culture, and ensuring disciplined execution of asset allocation and risk management objectives.
He joined INPRS in 2010 and has held several leadership roles, including director of public equity and deputy CIO. Earlier in his career, Davis worked at the Indiana Finance Authority and Motorola Solutions, where he gained experience in public finance and corporate analysis. He currently serves on the investment committees of the Indiana Biosciences Research Institute and the Indianapolis Symphony Orchestra Foundation.
AUM
$53 B
LOCATION
Indianapolis
REGION
Midwest
TIME AT FUND
15 year(s)
Steve Davis
Sacramento Country Employees' Retirement System Public Pension Fund
Steve Davis serves as chief investment officer of the Sacramento County Employees’ Retirement System (SCERS), managing approximately $14.5B in assets...
Steve Davis serves as chief investment officer of the Sacramento County Employees’ Retirement System (SCERS), managing approximately $14.5B in assets on behalf of county employees and retirees. Since joining SCERS in 2010, Davis has been instrumental in developing the fund’s strategic asset allocation framework, which has delivered consistent outperformance relative to both actuarial and policy benchmarks.
Before assuming the CIO role in 2016, Davis worked as a co-portfolio manager at Wedbush Morgan Securities and a senior research analyst at Concord Investment Counsel. He holds a bachelor’s degree in economics and finance from the University of Arizona and a Master of Business Administration degree from the University of Southern California. Davis is both a Chartered Financial Analyst (CFA) and a Chartered Alternative Investment Analyst (CAIA).
AUM
$15 B
LOCATION
Sacramento
REGION
Northern California
TIME AT FUND
15 year(s)
Robin Diamonte
RTX Private Sector Pension Fund
Robin Diamonte is the chief investment officer at RTX Corp. (formerly Raytheon Technologies Corp.), where she oversees $116B in global...
Robin Diamonte is the chief investment officer at RTX Corp. (formerly Raytheon Technologies Corp.), where she oversees $116B in global retirement assets, including $44B in domestic pension plans. Since her appointment in 2004, Diamonte has been a driving force behind RTX’s investment and governance strategy, serving on the company’s Finance Leadership Team and Global DEI Advisory Board.
This year, Diamonte and her team are developing a centralized repository for all vendor-related data, including custodians, managers, actuarial records, and legal documentation to enable the use of advanced tools and artificial intelligence for enhanced productivity and strategic insights.
Before joining RTX, Diamonte managed Verizon’s $40B pension plan as part of Verizon Investment Management. Appointed by President Barack Obama, she chaired the Advisory Committee for the Pension Benefit Guaranty Corp. and continues to serve on the boards of Morningstar and the Committee on Investment of Employee Benefit Assets Inc. (CIEBA). Diamonte holds a bachelor’s degree in electrical engineering and a Master of Business Administration degree in finance from the University of New Haven. She was also inducted into Markets Group’s CIO Hall of Fame in 2024.
AUM
$116 B
LOCATION
Farmington
REGION
New England
TIME AT FUND
21 year(s)
Jane Dietz
Brown University Endowment Fund Endowment
Jane Dietze serves as chief investment officer of Brown University, where she manages nearly $7B in endowment assets supporting the...
Jane Dietze serves as chief investment officer of Brown University, where she manages nearly $7B in endowment assets supporting the university’s academic and research mission. Since joining Brown in 2013 and being appointed CIO in 2018, Dietze has led the endowment through a period of strong long-term performance, emphasizing disciplined risk management, thoughtful manager selection, and innovation across asset classes.
In 2026, Dietze and her team are exploring the intersection of stablecoins, artificial intelligence, and developments in Japan’s financial markets, reflecting a forward-looking approach to global innovation and digital infrastructure within the investment landscape.
Before joining Brown, Dietze held senior roles in venture capital and alternative investments at Columbia Capital and Fortress Investment Group, following an early career in international finance. She currently serves on the boards of Galaxy Digital, the National Geographic Society, and MicroStrategy, and has previously served on the boards of Fortress Investment Group and BroadSoft. Dietze earned a bachelor’s degree in politics from Princeton University and a master’s degree in economics and Russian studies from Johns Hopkins University’s School of Advanced International Studies.
AUM
$8 B
LOCATION
Providence
REGION
New England
TIME AT FUND
12 year(s)
Amy Falls
Northwestern University Endowment Endowment
Amy Falls serves as the chief investment officer for Northwestern University’s $15.3B endowment, which provides vital support for the university’s...
Amy Falls serves as the chief investment officer for Northwestern University’s $15.3B endowment, which provides vital support for the university’s operations. With more than three decades of investment experience, Falls is recognized for her leadership in the endowment community and her consistent record of performance and discipline.
Falls and her team are currently focused on integrating artificial intelligence to enhance the investment process and navigating evolving dynamics within private equity, particularly exploring opportunities in the lower middle market and outside the United States.
Her extensive board experience includes serving as a board member for the Harvard Management Co. and the Ford Foundation, overseeing endowments exceeding $13B. She is chair of the board of trustees at Phillips Academy Andover, her alma mater, where she previously served as CIO, and she also serves on the board overseeing investments for the Peter G. Peterson Foundation. Together with her husband, Hartley Rogers, Falls established the Amy Falls and Hartley Rogers Foundation, a non-profit dedicated to supporting educational equity and equality.
AUM
$15 B
LOCATION
Evanston
REGION
Midwest
TIME AT FUND
4 year(s)
Marcus Frampton
Alaska Permanent Fund Corporation Sovereign Wealth Fund
Marcus Frampton serves as the chief investment officer of the Alaska Permanent Fund Corp. (APFC), where he oversees the management...
Marcus Frampton serves as the chief investment officer of the Alaska Permanent Fund Corp. (APFC), where he oversees the management of $84.4B in assets. Since joining APFC in 2012, Frampton has held multiple leadership roles, including head of private markets and director of real assets and absolute return, before being appointed CIO in 2018.
With a background spanning private equity and investment banking, including prior roles at Lehman Brothers and PCG Capital Partners, Frampton brings broad market expertise and a multidisciplinary approach to APFC’s investment strategy and portfolio management.
AUM
$84 B
LOCATION
Juneau
REGION
Pacific Northwest
TIME AT FUND
13 year(s)
Stephen Gilmore
California Public Employees' Retirement System (CalPERS) Public Pension Fund
Stephen Gilmore serves as chief investment officer of the California Public Employees’ Retirement System (CalPERS), where he oversees more than...
Stephen Gilmore serves as chief investment officer of the California Public Employees’ Retirement System (CalPERS), where he oversees more than $580B in assets and leads a team of more than 300 investment professionals. Appointed in 2024, Gilmore is responsible for the total fund’s investment strategy, portfolio management, and business operations for the largest public pension fund in the United States.
Before joining CalPERS, Gilmore served for more than five years as chief investment officer of the New Zealand Superannuation Fund, a sovereign wealth fund owned by the New Zealand government. Earlier in his career, he was chief investment strategist at the Future Fund, Australia’s sovereign wealth fund, where he oversaw portfolio strategy, investment risk, and analytics. He also held senior roles at AIG Financial Products, Morgan Stanley, and began his career as an economist at the Reserve Bank of New Zealand and the International Monetary Fund.
Gilmore holds both a Bachelor and Master of Commerce in economics from the University of Canterbury. He is a chartered accountant and a graduate of the Australian Institute of Company Directors.
