Hirtle Callaghan, pioneers of the Outsourced Chief Investment Officer (OCIO) model, announced today that Ranji Nagaswami, a distinguished investment industry executive and thought leader, has been named Chief Executive Officer to further strengthen the management team and position the firm for continued excellence and growth. The announcement was made by Jonathan J. Hirtle, who co-founded Hirtle Callaghan in 1988. Mr. Hirtle will remain fully engaged as the firm's Executive Chairman.

"Ranji Nagaswami is an exceptional leader and an extraordinarily talented investment industry executive; we are thrilled to have her join us as CEO. She brings tremendous additional strength to our executive team as we enter the next phase of our firm's development and growth," stated Mr. Hirtle.

Ms. Nagaswami has spent the majority of her almost 30-year career leading businesses as a senior executive, advisor and strategist in both the private and public sectors. From 2010 to 2012, Ms. Nagaswami served as Chief Investment Advisor to the administration of Mayor Michael R. Bloomberg for the City of New York's $150 billion Employee Retirement Systems.

Prior to joining the public sector, Ms. Nagaswami was Chief Investment Officer within the Blend Strategies team of AllianceBernstein L.P., and earlier was Chief Investment Officer of AllianceBernstein Investments. Ms. Nagaswami joined Sanford C. Bernstein in 1999 and was a member of its vaunted Value Equities team for many years. From 1986 to 1999, she was at UBS Asset Management and its predecessor organizations, where her last role was Managing Director and Co-Head of U.S. Fixed Income. Most recently, she served as Operating Partner and Senior Advisor at Corsair Capital, and as a Strategist with Bridgewater Associates.

Ms. Nagaswami is a Member of the CFA Institute's Advisory Council and the UAW VEBA Medical Benefits Trust Investment Advisory Council and is a Henry Crown Fellow and founder of the Finance Leaders Fellowship program at the Aspen Institute. She was previously a member of the Yale University Investment Committee, the Yale School of Management Advisory Board, a Visiting Executive Fellow at the Yale School of Management's International Center for Finance, and Trustee and Chair of the Investment Committee of the Wallace Foundation.

"Hirtle Callaghan is a firm of investment industry idealists with a history of innovation in managing complete, custom-designed investment solutions for its clients. I am thrilled to be at its helm and find ways to strengthen our conflict-free, value creation model for the benefit of investors seeking complete fiduciary alignment in their outsourced investment department. I am especially excited to be working in close partnership with Jon Hirtle,Rob Zion (COO), and the entire Hirtle Callaghan team to improve not only outcomes for our clients, but to improve the investment industry for investors everywhere," said Ms. Nagaswami.

Jon Hirtle added, "In Ranji, we have a CEO with world-class industry expertise who shares our firm's core values and investment philosophy." As Executive Chairman, Mr. Hirtle will continue to work full time focusing on clients and strategy.

About Hirtle Callaghan

Hirtle Callaghan is a 21st century investment institution known for its professional, client-centric, performance-driven culture and its conflict-free business model. As an organization of Chief Investment Officers, Hirtle Callaghan sells no products. Rather, the firm uses collective purchasing power and aggregate expertise to design and manage complete, custom-designed investment programs for family and institutional investors. These programs are executed through best-in-class independent money managers and specialized index funds. Multi-manager hedge fund and private equity pools are included, when appropriate, but without a fund-of-funds fee.

Now in its 28th year, Hirtle Callaghan, America's First Outsourced Chief Investment Officer®, supervises over$20 billion of family, endowment, foundation, healthcare and pension assets in 46 states.

For more information, please visit www.hirtlecallaghan.com.