Indo-Am Appointed as NY’s First Ever Investment Advisor

Indian-American financial expert Ranji Nagaswami has been appointed New York City’s first investment advisor by Mayor Michael Bloomberg after concerns over spiraling pension costs emerged.

Nagaswami will be the “full-time, central advisor to the Mayor’s trustees on the five New York City retirement system boards and the New York City Deferred Compensation Plan Board”, the Mayor’s office said on Monday.

Nagaswami will be working as an advisor to mayoral appointees to the city’s five pension boards. She will also become Chairwoman of the New York City Employees’ Retirement System, replacing Bud Larson, the Associate Director of the Office of Management and Budget.

Indian-born Nagaswami came to the United States in 1984 to attend business school at Yale University. She brings over 20 years of experience in the private sector, including a 10-year tenure at AllianceBernstein where she was chief investment officer and oversaw $100 billion in assets and management. She left in February 2009.