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

Carol currently serves as an independent director of two public companies, Rent-A-Center, Inc. (NASDAQ: RCII), where she chairs the Nominating and Corporate Governance Committee and sits on the Audit Committee, and Argo Group (NYSE: ARGO), where she chairs the Investment Committee and sits on the Audit 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.  Her earlier career experience was as Assistant Treasurer of Macmillan, Inc. and Senior Account Officer of Citibank, N.A.

Carol received the Investor Intelligence Network Thought Leadership Award from Institutional Investor in 2014, as well as their 2014 Small Corporate Plan Sponsor Award. CIO Magazine recognized Carol 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.

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.

Carol 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 a member of the National Association of 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.