Michael Ruetz was named deputy chief investment officer of the $6.84 billion Margaret A. Cargill Philanthropies, Eden Prairie, Minn.
The position is new, said Leeanne Huber, spokeswoman.
Mr. Ruetz was investment director, risk management and asset allocation, and will retain his previous duties.
He will report to Shawn Wischmeier, chief investment officer.
Three grant-making charities comprise Margaret A. Cargill Philanthropies — Margaret A. Cargill Foundation, Anne Ray Charitable Trust and Akaloa Resource Foundation.
