Nicholas Stanton was promoted to senior portfolio manager to lead a new multiasset strategy division at the $105 billion State of Wisconsin Investment Board, Madison, said Vicki Hearing, communications manager.
A search earlier this year for a new position of managing director, multiasset and absolute-return portfolios failed to find any external candidates that met qualifications SWIB was seeking, Ms. Hearing said.
The position has since been downgraded from the posted offer of managing director.
SWIB has $5.1 billion in multiasset strategies, including hedge funds and absolute return, and $8.2 billion in policy overlay, according to a SWIB report. SWIB manages internally $1 billion of the multiasset allocation.
Mr. Stanton, who started in the position Monday, reports to David C. Villa, chief investment officer. Mr. Stanton was managing analyst-equities, specializing in consumer staples, for internally managed portfolios.
Thomas Freeman, analyst, who worked with Mr. Stanton, “will transition to the lead” analyst, replacing Mr. Stanton, Ms. Hearing said.