What if your pension fund could outperform peers while cutting operational costs in half?

In this episode of The Institutional Edge, host Angelo Calvello interviews Antonio Rodriguez, Director of Investments at Building Service 32BJ Benefit Funds, exploring how multi-agent AI systems could revolutionize pension fund management. Rodriguez argues that resource-constrained allocators can leapfrog traditional technology by adopting AI agents for operational tasks before advancing to investment decisions. "Resource constraints are the engine for innovation," Rodriguez explains, advocating for staging implementation from legal documentation to tactical asset allocation. They discuss implementation challenges, including governance structures, data privacy, vendor selection, and the importance of maintaining human oversight while transforming pension fund operations through AI-enhanced decision-making processes.

Antonio Rodriguez has dedicated his career to responsible investment of working people’s capital. In his current role as Director of Investments for the 32BJ Benefit Funds, he is responsible for the defined benefit pension, health, defined contribution, training, and legal funds for over 170,000 members of SEIU 32BJ, totaling over $10 billion in assets. At the 32BJ Funds, Antonio leads the investment team and advises trustees on investment policy, asset allocation, portfolio construction, and manager selection. Prior to his role at the 32BJ Funds, Antonio was Director of Investment Strategy at the New York City Board of Education Retirement System. Antonio also served as trustee for four of the New York City Retirement Systems (NYCRS) and the New York City Deferred Compensation Plan. Before his various roles at NYCRS, Antonio spent the first part of his career as a union researcher and organizer at the Service Employees International Union, including as Research Director at SEIU Local 1107 and as a member of the SEIU Capital Stewardship team. Antonio has been a member of various boards, including the New York Foundation, the Jobs with Justice Education Fund Board, the CFA Institute’s Global Investment Performance Standards Asset Owner Advisory Committee, and the AIF Global Investor Board. He earned his BSBA in Accounting and History from Washington University in St. Louis and his Master of Arts in History from the City College of New York. He holds the Chartered Financial Analyst (CFA) designation and a Certificate in Performance Measurement.

In This Episode:

(00:00) Introduction and background on AI agents and multi-agent systems

(01:26) Antonio Rodriguez introduction and technology adoption challenges in pension funds

(04:23) Resource constraints driving innovation and leapfrogging opportunities in allocators

(10:27) Staging AI implementation starting with operational and legal tasks

(18:07) Blue sky vision for investment decision-making and committee processes

(28:07) Implementation challenges including vendor selection and data privacy concerns

(39:58) Future of pension management and insourcing investment functions

(47:05) Closing thoughts and worst pitch story

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Dr. Angelo Calvello is a serial innovator and co-founder of multiple investment firms, including Rosetta Analytics and Blue Diamond Asset Management. He leverages his extensive professional network and reputation for authentic thought leadership to curate conversations with genuinely innovative allocators.

As the "Dissident" columnist for Institutional Investor and former "Doctor Is In" columnist for Chief Investment Officer (winner of the 2016 Jesse H. Neal Award), Calvello has become a leading voice challenging conventional investment wisdom.

Beyond his professional pursuits, Calvello serves as Chairman of the Maryland State Retirement and Pension System's Climate Advisory Panel, Chairman of the Board of Outreach with Lacrosse and Schools (OWLS Lacrosse), a nonprofit organization creating opportunities for at-risk youths in Chicago, and trustee for a Chicago-area police pension fund. His career-long focus on leveraging innovation to deliver superior client outcomes makes him the ideal host for cutting-edge institutional investing conversations.

Resources:
Antonio Rodriguez LinkedIn:https://www.linkedin.com/in/antonio-rodriguez-cfa-cipm-11985327/
Email Angelo: [email protected]
Email Julie: [email protected]
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