NEW YORK and PALO ALTO — SECOR Asset Management, a $41 billion investment firm, announced that Kenneth Frier and Gretchen Tai have joined the firm as Partners and will serve as Co-Heads of SECOR’s newly opened West Coast office in Palo Alto. The office is located at 3000 El Camino Real.
Mr. Frier, who was most recently Chief Investment Officer (“CIO”) at Atlas Capital Advisors in San Francisco, and Ms. Tai, who was previously CIO for Hewlett-Packard’s retirement benefit plan assets, will oversee the growth and expansion of SECOR’s investment advisory and portfolio solutions businesses in the U.S. on the West Coast and in Asia.
Mr. Frier and Ms. Tai will report to Tony Kao, SECOR Co-Founder and Managing Principal of the firm’s investment advisory and portfolio solutions businesses.
SECOR has headquarters in New York City and office in London. SECOR’s new West Coast office will allow Mr. Frier and Ms. Tai to focus on expanding the firm’s client base and product offerings in the region and across Asia, drawing upon their decades of experience as CIOs managing defined benefit (“DB”) and defined contribution (“DC”) plan assets for large corporations and foundation, endowment and family office investment portfolios. Mr. Frier and Ms. Tai also bring with them a new risk-managed, global equity strategy that they developed and managed over the past two years, which will be on available on SECOR’s platform.
“This is the ideal time for SECOR to broaden its business footprint and client offerings on the West Coast and in Asia, and we are excited to have Ken and Gretchen spearhead these efforts,” said Tony Kao. “As leading CIOs in the institutional investment world, Ken and Gretchen have served as trusted fiduciaries for decades, overseeing more than $100 billion in total plan assets for their constituents. Their investment philosophies and approach are very aligned with our own internal views and processes, and this shared vision, coupled with their deep understanding of the institutional investment framework and ongoing challenges clients face, creates a unique and powerful offering for our clients.”
Kenneth Frier, CFA, was Chief Investment Officer at Atlas Capital Advisors in San Francisco before joining SECOR. Mr. Frier has over 30 years of experience as an institutional investor, previously serving as Chief Investment Officer at The Walt Disney Company, Hewlett-Packard, Stanford Management Company and the UAW Retiree Medical Benefits Trust. He has written and spoken extensively on risk management and asset allocation strategies, and originated enhancements to many risk management tools that are widely used by institutional investors today, such as liability hedging, equity downside protection and currency management.
Gretchen Tai most recently served as President and Chief Investment Officer of Hewlett-Packard Inc.’s asset management subsidiary, Shoreline Investment Management Company, which oversees approximately $45 billion of various benefit plan assets for Hewlett-Packard and its affiliated companies. Ms. Tai’s innovations in dynamic asset allocation and risk management led the Hewlett-Packard U.S. plan to leading performance during her tenure. She also created custom funds of funds in five asset categories that were instrumental in improving the investment performance of Hewlett-Packard’s non-U.S. pension plans.