SEATTLE – Casey Family Programs, the nation’s largest operating foundation dedicated solely to providing and improving—and ultimately preventing the need for—foster care, announced today the hiring of Joseph A. Boateng as chief investment officer (CIO). Effective today, Boateng will work closely with the organization’s board of trustees and investment committee, and will be responsible for implementing and managing the foundation’s investment functions.
In an effort to manage the organization’s financial assets more effectively on behalf of children, youth, and families, on Jan. 31, 2006, Casey Family Programs brought investment management functions in house. Boateng, in collaboration with the board of trustees and the investment committee, will be responsible for the organization’s $2.4 billion endowment.
“We are delighted to have Joseph join Casey Family Programs, as he is an excellent fit with our investment philosophy and approach, and is strongly connected to our mission,” said Gloria Reeg, board of trustees treasurer and investment committee chair at Casey Family Programs. “By bringing on a CIO of his caliber, we hope to continue to grow the foundation’s endowment to positively impact the children and families we serve over the long term.”
Before coming to Casey Family Programs, Boateng served as director and member of the Johnson & Johnson investment committee, which was responsible for managing over $17 billion in employee benefit assets. Prior to joining Johnson & Johnson, Boateng was managing consultant at KPMG Consulting, leading derivatives, financing and securitization projects for major financial services clients. He spent 13 years with Xerox Corporation, where he held various positions including being a key member of the Trust Investment Team, a group that managed $10 billion pension and savings plans assets worldwide. Boateng served as regional development officer for AIESEC, the world’s largest student organization, in Africa until he joined Xerox in 1988.
“Casey’s work to improve outcomes for children and families who experience foster care in this country is dependent on our ability to effectively steward our foundation’s assets,” said William C. Bell, president and CEO of Casey Family Programs. “By hiring Joseph, we are taking a strategic step forward to enhance our financial and investment capabilities and strengthen our ability to improve the lives of the more than 500,000 children who live in foster care every year in America.”
Casey Family Programs operates across the country and collaborates with foster, kinship and adoptive parents to provide safe, permanent and loving families for youth in foster care. The foundation also works with counties, states, and American Indian and Alaska Native tribes to improve services and outcomes for the more than 500,000 children who live in foster care every year.