Nestor Villarosa Santiago, vice president and chief investment officer at the Chevy Chase, Md.-based Howard Hughes Medical Institute, died June 12 of a heart attack. He was 54.
"A lot of people think of investments as stocks and bonds," said Ken Miranda, who in 2000 took over from Mr. Santiago as chief investment officer of the Washington-based International Monetary Fund's pension fund. "He quickly understood the importance of putting his time into investments in the social fabric."
As such, Mr. Santiago served on the investment committee of the Arena Stage, was chairman of the finance council of the Holy Trinity Catholic Church in Georgetown, was a financial adviser to the Margaret McNamara Memorial Fund and a trustee of the College Retirement Equities Fund, New York. He also was a trustee of the Washington Opera, to which he was devoted.
Mr. Santiago, a native of the Philippines, had a background in engineering, economics and business that influenced his work in investments in a profoundly quantitative manner. He is best remembered by friends and colleagues for thinking outside the box.
"Nestor had brilliant investment insight and an uncanny ability to find the right phrase for a yet-to-be-properly-described state of events," said Hilda Ochoa-Brillembourg, a former colleague from the World Bank. She is president and CEO of Strategic Investment Group in Arlington, Va. Mr. Santiago and Ms. Ochoa-Brillembourg stayed in touch, meeting regularly to read Western classics together with Mr. Santiago's wife, Aurora, and others.
"The group will continue with Aurora and the rest of us, and we will quote Nestor frequently and remember his laugh," Ms. Ochoa-Brillembourg said.