Garry Duncan was named president at Verger Capital Management, effective May 2, said a spokeswoman in an e-mail.
It is a new position. Mr. Duncan’s responsibilities will encompass internal and external asset management, portfolio rebalancing, risk management, compliance, business development and client management, said a news release from the investment outsourcing firm.
In 2014, Wake Forest University’s chief investment officer, Jim Dunn, in conjunction with the school’s board of trustees, formed Verger Capital as an external manager and took over the university’s $1.17 billion in assets as its outsourced CIO. Verger has more than $1.2 billion in assets under management, of which Wake Forest makes up the majority. Mr. Dunn serves as CEO and CIO of Verger.
Mr. Duncan is currently senior vice president at PNC Institutional Asset Management. A PNC spokeswoman declined to comment.