Carol McFate has retired as chief investment officer of Xerox Corp. after nearly 11 years. Her last day with the company was yesterday, according to a report in Institutional Investor.
McFate joined the Norwalk company in November 2006 after previously serving as executive vice president and global treasurer for XL Capital Ltd. and vice president and treasurer for American International Group. At Xerox, she was responsible for overseeing more than $12 billion of retirement assets. Xerox has not named a successor for McFate.
“I’ve been lucky in my career, but I’ve also developed the resiliency to adapt when circumstances took a sharp turn that I hadn’t anticipated,” she said. “I’ve always been very curious and interested in mastering one skill set and then moving on to the next one. Most people avoid change and being a change agent – I relish it. Most of my career has been figuring out how to solve a problem and then getting it done. I have never been fearful of the unknown when taking on new challenges. Granted, you need to recognize your own limitations and bring in others with complementary skills to balance what you contribute, but if a new role looked interesting and broadened my skill set or experience base, I was not afraid of jumping into the deep end.”