U.S. Bancorp Asset Management names Marc Ammaturo head of OCIO distribution

September 06, 2023

The business anticipates growth for its Outsourced Chief Investment Officer (OCIO) division

The increasing complexity of portfolios and regulatory requirements, combined with market volatility, means that many institutions are reevaluating their approach to managing investment portfolios and choosing to “outsource” this CIO expertise from outside firms through an outsourced chief investment officer (OCIO) model. Data compiled by Pensions & Investments show that OCIO assets managed for institutional investors across the globe — under full or partial delegation arrangements — totaled about $2.66 trillion as of March 31, 2022, up 86% vs. 2017.

photo of Marc Ammaturo
Marc Ammaturo has more than 25 years of experience in financial services.

U.S. Bancorp Asset Management, Inc. has been steadily growing its OCIO business, and as a continuation of that effort has named Marc Ammaturo as head of Distribution for its Institutional OCIO practice, housed within its subsidiary, PFM Asset Management LLC. In this role, Ammaturo and his team will support the firm’s go-to-market strategy for consultant relations, as well as not-for-profit, corporate, public sector and Taft-Hartley clients.

“The institutional OCIO segment is an area with significant growth opportunity, especially given the current economic environment,” said Jim Link, head of Institutional OCIO. “Our institutional clients are looking for an OCIO partner who is able to offer sophisticated guidance and navigate these challenges in an agile and cost-effective manner that may not be possible with in-house resources.

“Marc is a financial services veteran with 27 years of experience. For the past 11 years, he has been integral in implementing PFM Asset Management’s strategy to develop, market and grow our OCIO services,” Link said. “Building out a specialized distribution team under Marc’s guidance allows us to focus our efforts on developing deeper relationships with our clients and significantly expanding our presence across the U.S. We’re thrilled to name him to this role.”

Ammaturo worked at organizations including PricewaterhouseCoopers and PNC Global Investment Servicing prior to joining PFM Asset Management in 2005. Over his tenure at PFM Asset Management, Ammaturo has served as an equity analyst, a member of the investment committee, secretary of the PFM Multi-Manager Series Trust mutual funds and as a managing director. He holds an MBA from the University of Maryland and a B.S. from Penn State University. 

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