Jennifer Newell

Jennifer C. Newell is Principal and Chief Executive Officer of Alan Biller and Associates, an employee-owned, independent fiduciary investment-consulting firm founded in 1982 and based in Menlo Park, California. Her appointment as CEO was reported by *Pensions & Investments* in November 2021 (effective the following January) and represented an internal promotion, with founder Alan Biller, Ph.D., continuing as Chairman. The firm is one of the largest discretionary (OCIO) consultants in the United States.

Before leading Alan Biller, Newell served as Managing Director and Senior Portfolio Manager at Metropolitan West Capital Management, where she managed investment portfolios for US and international clients and worked across portfolio construction, risk management, and investment reporting. Her career has centered on serving US institutional asset owners — including Taft-Hartley/multi-employer (union) plans, public pension plans, corporate pension and defined-contribution plans, and nonprofit benefit funds.

Newell holds an MBA from the University of California, Berkeley (Walter A. Haas School of Business) and also studied at the London School of Economics and Political Science (LSE). She carries both the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations, and is a registered Investment Adviser Representative.

• Leads an independent, conflict-free fiduciary consulting model: per the firm, Alan Biller is compensated solely by its clients, with "no sponsored products or self-dealing," aligning advice with client interests.
• Operates in two capacities: (1) non-discretionary consulting — asset-allocation policy, manager searches, contract negotiation, investment guidelines, performance monitoring and reporting; and (2) Outsourced CIO (OCIO) — assuming discretionary authority to set policy, rebalance portfolios, and hire/fire external managers.
• Decisions are about managers and asset allocation, not startups. "Saying yes" means selecting and monitoring external investment managers and structuring multi-asset-class portfolios for institutional clients — including allocations to alternatives/private markets — rather than writing seed checks into companies.
• Client universe is exclusively US institutional, with deep specialization in Taft-Hartley/multi-employer plans and public and corporate pension funds.