American Century Investments has named Cleo Chang as senior vice president and head of alternative investments. Chang, who joins American Century on May 18, was previously chief investment officer of Wilshire Funds Management.
Chang’s appointment to this newly created investment management role comes on the heels of other recent executive hires in advance of the firm's anticipated launch of a suite of alternative investment strategies.
As head of alternative investments, Chang will be the firm's most senior investment management executive responsible for the development and oversight of liquid alternative investment capabilities. Specifically, she will provide strategic direction for the firm's alternative investments initiative, help develop competitive and forward-looking proprietary investment capabilities within the alternatives market in conjunction with the firm's investment teams, provide oversight to third-party alternatives investment management subadvisors and serve as the company's thought leader on liquid alternatives, providing her perspective to clients and other external audiences. Reporting to Co-Chief Investment Officer Victor Zhang, Chang will work closely with the firm's discipline CIOs, experienced subadvisors and senior members of American Century's investment management team to create a range of solutions for clients.
"As we work toward the expansion of our alternative investment capabilities, I can't think of a better, more strategic leader to oversee this very important initiative," says Zhang. "I've known Cleo for more than a decade. She's a consummate investment professional committed to providing clients with innovative investment solutions, guided by the same high standards of quality, risk awareness and governance that are the hallmarks of American Century Investments."
Prior to joining American Century, Chang was with Wilshire Funds Management for 10 years, most recently serving as CIO and managing director. As CIO, Chang oversaw all investment-related functions, including manager research, portfolio management and investment research for both traditional and alternative asset classes. Previously, she was the head of investment research, responsible for creating investment solutions and asset allocation frameworks.
Earlier in her career, Chang served as manager of investments with Harris myCFO Investment Advisory Services, a subsidiary of Bank of Montreal. She earned her BA in economics from the University of California, Berkeley and an MS in mathematical finance from the University of Southern California. She also holds an MBA with a concentration in finance from the Marshall School of Business, University of Southern California.