Assets Under Management AUM

Penn State deputy CIO leaves to build new investment office

Sonali Dalal is leaving her longtime employer, Pennsylvania State University, to build — and lead — a new in-house investment office.

Dalal, who spent 19 years at Penn State, most recently as deputy chief investment officer, is heading to the University of St. Thomas in St. Paul, Minnesota, where she will serve as vice president and chief computer science. Dalal will build the university’s first-ever in-house investment office, according to a school announcement.

Currently, St. Thomas has $900 million in assets under management — the same AUM held by Penn State when Dalal joined in 2003.

Dalal joined Penn State shortly after its investment office moved in-house and “helped” grow those assets to more than $6 billion today, according to the St. Thomas announcement. At Penn State, Dalal started as a senior investment analyst, then rose to director of investment strategy and research, chief investment strategist, and most recently, deputy director of investments.

“Sonali’s record of success at Penn State has been very impressive,” St. Thomas interim president Rob Vischer said in a statement.

Andrew Duff, former CEO of Piper Jaffray and chairman of the St. Thomas investment committee, agreed. “Sonali is a strategic thinker and communicator with an impressive track record as an investor, analyst and executive director,” he said, also in a statement.

Prior to joining Penn State, Dalal held positions at Export-Import Bank of India and Lloyds Finance. She will join the St. Thomas investment office in August.