Vanderbilt hospital boots investment chief, takes assets to Morgan Stanley

Nashville, Tenn.-based Vanderbilt University Medical Center has ousted its chief investment officer and passed the baton to Morgan Stanley, Chief Investment Officer reported Nov. 3. 

Alaine Zachary, the hospital's vice president of treasury and chief investment officer, has served in the role since 2015. During her tenure, she built its total assets from $160 million to around $1.1 billion, according to the publication.

Graystone Consulting — Morgan Stanley's outsourced chief investment officer unit, which previously served Ms. Zachary's office as a consultant — will now handle the hospital's assets, the publication reported. 

Vanderbilt University Medical Center declined Becker's request for comment; Morgan Stanley did not return it. 

The move bears similarity to a recent reshuffle from Hartford HealthCare. On Sept. 20, the Connecticut-based health system fired its entire investment staff — including chief investment officer David Holmgren, who served in the role since 2010, according to Institutional Investor. Hartford HealthCare also took its $4.3 billion in assets to Morgan Stanley. 

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