Stuart Odell Jr., a former top retirement executive at Intel Corp., was hired as a managing director and senior consultant at Verus Advisory, an investment consulting firm and provider of outsourced CIO services.
The position is new, said Margie Lane, director of marketing. Mr. Odell will start Feb. 24, and he will work from the firm's San Francisco office, Ms. Lane said.
"His perspectives will be invaluable to the corporate funds, government pension plans, non-profits and higher education institutions that are key sectors within Verus' client base," CEO Jeffrey MacLean said in the news release.
Mr. Odell said in an interview that he was looking forward to working with multiple clients, adding that he hoped he could help Verus expand its defined contribution business due to his corporate experience. “I see this as a natural opportunity,” he said.
Given his expertise in adding alternative investments to Intel’s various retirement plans, he said the eventual acceptance of alternatives by DC plans in multiasset portfolios “could lead to some real opportunities as this develops further.”
Mr. Odell had been assistant treasurer for retirement investments at Intel. He left in January 2019 but declined at the time to discuss his reasons for leaving. He held the Intel job from 2001 through his departure, according to a biography posted on the website of the Defined Contribution Institutional Investment Association. During Mr. Odell's tenure, Intel's retirement assets rose to more than $22 billion from $5 billion, the website said.
At Intel, Mr. Odell served as secretary of Intel's investment policy committee and was a fiduciary on Intel's retirement plan administrative committee, the website said. Mr. Odell currently is a member of the investment committee for the endowment of St. Ignatius College Preparatory, a Jesuit high school in San Francisco.
