Bruce Zimmerman was named president, CEO and CIO of the University of Texas Investment Management Co., Austin, confirmed spokesman Anthony de Bruyn. Mr. Zimmerman will take over in July. He replaces Bob Boldt, who resigned in September as the head of the management company, which oversees roughly $21 billion in endowment assets for University of Texas System. Executive recruiting firm Spencer Stuart led the search.
Mr. Zimmerman is currently the global head of pension investments for Citigroup, where he oversees $10.834 billion in pension assets and $11.122 billion in defined contribution assets, according to Pensions & Investments annual directory of the top 200 retirement plans. Mr. Zimmerman will assist Citigroup in finding his replacement before taking his new post at UTIMCO, said Valerie Hendy, Citigroup spokeswoman.
The UTIMCO appointment was first reported earlier today on Pensions & Investments website, www.pionline.com.