The Church Pension Group, an asset owner serving the Episcopal Church, has hired a new chief investment officer from J.P. Morgan Asset Management.
The $18.4 billion allocator said Michael Hood will replace Roger Sayler. Institutional Investor reported in August that Sayler would be retiring after nine years as the fund’s CIO.
Hood has joined from J.P. Morgan Asset Management’s multi-asset solution team, where he served as managing director. At JPMAM, he helped oversee portfolios across asset classes worth $350 billion. Prior to joining CPG, Sayler also had a lengthy tenure at JPMorgan, holding various roles over 20 years.
“[Hood’s] impressive background in developing portfolio views and positioning for investors like CPG will serve our clients well and build upon the success Roger has had in managing our investment portfolio over the past nine years,” said Mary Kate Wold, CEO and president of CPG, in a statement. “I want to thank Roger for his excellent and dedicated service, and we wish him the very best in his retirement.”
Hood previously worked as chief economist at Traxis Partners, analyzing markets including Asia, Europe, and Latin America. Other prior roles include working as an economist and market strategist at Barclays Capital, JPMorgan Chase, and the Federal Reserve Bank of New York.
Hood also has personal ties to the allocator.
“I have long been familiar with CPG, as both my grandfather and uncle served as Episcopal priests,” he said in a statement. “I look forward to building upon Roger’s achievements and ensuring that CPG remains steadfast in meeting its financial obligations to those who serve the church.”
CPG invests on behalf of the Episcopal church clergy and employees to ensure their retirement, health, life insurance, and other benefits. The organization also provides property and casualty insurance.
Russell Reynolds ran the search for the CIO.