Thursday, September 5th, 2019
The Verger Capital Management (Verger Capital or Verger) Board of Managers is pleased to announce the appointment of Carol McFate as an independent member of the Board. McFate currently serves as an independent director of Rent-A-Center, Inc. (NASDAQ: RCII) and is a member of their Audit Committee and Nominating & Governance Committee. From 2006 to 2017, McFate served as Chief Investment Officer at Xerox.
McFate’s appointment expands the Verger Board to eight members. She will serve on the Board’s Audit & Compliance Committee, Nominating & Governance Committee, and Investment Committee.
“I am thrilled to welcome Carol to Verger’s Board of Managers,” said Jim Dunn, Chief Executive and Investment Officer. “As a highly regarded and innovative leader in the industry, Carol brings a wealth of knowledge and experience as well as a passion for supporting our mission to invest in the lives of others through our clients.”
While at Xerox, McFate was responsible for the investment management of more than $12 billion in defined benefit and defined contribution investments for North American and U.K. retirement plans. During the 2008 financial crisis, she successfully brought the management of the U.S. pension plan in-house. Prior to her tenure at Xerox, she served in various leadership and investment management roles at financial services organizations, including XL Global Services, Inc., AIG, Inc., and Prudential Insurance Company of America.
“We are very fortunate to have her support,” continues Dunn, “and we look forward to the value, insight, and governance she will surely provide as we continue to grow the firm.”
McFate was honored with the Investor Intelligence Network Thought Leadership Award from Institutional Investor in 2014, as well as their 2014 Small Corporate Plan Sponsor Award. CIO Magazine also recognized McFate with the Corporate Plan Sponsor Industry Innovation Award in 2012, and she was named one of the magazine’s Chief Investment Officer Power 100 for seven consecutive years.
She served as a Director of CIEBA, Inc. (2016-2017), Chair of the Defined Contribution Committee of CIEBA and a trustee of the Xerox UK Pension Scheme. She is also a member of the National Association of Corporate Directors and Women Corporate Directors. She is a past member of the Board of Trustees of the Parsons Dance Foundation in New York and the Katharine Hepburn Cultural Arts Center in Old Saybrook, Connecticut.
In addition to receiving a Bachelor’s degree in Economics from Juniata College, McFate earned an MBA from Harvard Business School and is a CFA® charterholder.