Carol McFate

Member, Verger Board of Managers
Independent Corporate Director
Former Chief Investment Officer, Xerox Corporation

Carol currently serves on the Board of Directors for two public companies, Upbound Group Inc. (NASDAQ:  UPBD), where she chairs the Nominating and Corporate Governance Committee and Argo Group (NYSE: ARGO), where she chairs the Investment Committee and sits on the Audit Committee and Human Resources Committee.

In her professional career, Carol’s experience spanned finance and investment management in a number of key senior roles: Chief Investment Officer of Xerox Corp. (2006 to 2017), where she was responsible for the management of $12 billion of retirement assets in the US, UK, and Canada; Global Treasurer of XL Capital Ltd (2003-2006) where she built a global team to manage XL’s liquidity and capital worldwide; VP & Treasurer of AIG, Inc. (1994-2003), where her global team of 100 professionals was responsible for managing the funding, liquidity, FX, and credit ratings for AIG and its subsidiaries worldwide; and SVP of Prudential Insurance Company of America, where she held several investment management roles in Pru’s private placement group.

Carol has an MBA from Harvard Business School and holds a Bachelor of Science degree in Economics from Juniata College. In 2014, Carol was named Juniata College Executive in Residence and was recognized with the Juniata College Alumni Achievement Award in 2008. Carol also holds a CFA charter.