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Wilshire Consulting names Steven J Foresti as CIO

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Wilshire Consulting, the institutional investment advisory and outsourced-CIO business unit of Wilshire Associates Incorporated, has named Steven J Foresti as its chief investment officer (CIO). 

Foresti, a managing director, will continue as head of Wilshire Consulting’s Investment Research Group, which oversees strategic investment research and the development of asset class assumptions for use in Wilshire Consulting’s asset allocation modelilng. Appointing him as CIO helps reinforce Foresti’s role in harnessing Wilshire’s investment and manager research into actionable recommendations for Consulting non-discretionary and OCIO clients. 

“In this important role as Chief Investment Officer, Steve will continue to lead our investment research efforts including chairing Wilshire Consulting’s Investment Committee and carrying forward our rich tradition of thought leadership within the institutional investment profession,” says Julia K Bonafede, CFA, president of Wilshire Consulting. “Steve has been deeply involved in developing Wilshire’s capital market assumptions and publishing strategic investment research on behalf of Wilshire clients. This direct experience makes Steve the ideal person for this new role. In many ways, he has performed the activities of a CIO for years and his appointment simply formalises his responsibilities.”

“It is an honour to serve as CIO of Wilshire Consulting,” says Foresti. “I recognise how fortunate I am to have the opportunity to work alongside such an incredibly talented group of investment professionals. I take great pride in helping to channel the creativity that results from our collaborative research process and in packaging those ideas into valuable insights on behalf of clients who have placed their trust in Wilshire.” 

Foresti, who is based in Wilshire Associates’ Santa Monica, California, headquarters office, joined the firm in 1994. He has authored papers on a broad range of topics across both the traditional and alternative investment areas. Among the recent research papers Foresti has authored are, “A Practical Approach to Factor-Based Asset Allocation,” “Bonds Gone Wild: The Role of Unconstrained Bond Strategies” and “The Bucket List: Utilizing Broad Investment Groupings in Asset-Liability Studies.” In addition to serving as chair of Wilshire Consulting's Investment Committee, Foresti chairs Wilshire Associates’ 401(k) Committee and is a member of the firm’s Manager Research Oversight Committee and Index Oversight Committee. 

Prior to joining Wilshire Consulting, Foresti spent nine years with Wilshire Analytics where he developed and supported quantitative attribution and risk models within the Wilshire Quantum SeriesSM of investment analytics. He also made major contributions to the creation of Wilshire’s analytic models, including the Wilshire US Equity Risk Model and the Wilshire GR6 Equity Risk Model. 

Foresti has worked directly with large institutional investors including public and corporate defined benefit plans, foundations, endowments and insurance companies. He earned a BS in finance from Lehigh University and an MBA in finance and accounting from the University of Texas at Austin. 

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