Mr. McDonough is the Chief Investment Officer and a Senior Consultant at Investment Performance Services, LLC and is responsible for developing and implementing investment policy for the firm. In addition, he works on all aspects of client funds including investment policy formulation, asset allocation strategies, performance monitoring, and manager searches. He serves as Chairman of the IPS Investment Committee and a frequent speaker at educational conferences. Mr. McDonough’s manager research responsibilities include multi-asset allocation strategies and private equity.
Prior to joining IPS in 2018, Mr. McDonough was the Director of the Division of Investment for the State of New Jersey and Chief Investment Officer for the approximately $79 billion New Jersey Public Employees Retirement System. He was responsible for developing the long-term strategic asset allocation and annual tactical investment plans for New Jersey, and during his tenure, the State was frequently recognized for its innovative investment strategy and strong performance. Prior to New Jersey, Mr. McDonough spent ten years with the City of Philadelphia Public Employees Retirement System where he was Chief Investment Officer of defined benefit plan and deferred compensation plan with combined assets in excess of $4.5 billion.
Mr. McDonough earned a B.S. in Finance from LaSalle University. He is an active member of the St. Bede’s the Venerable CYO Program.