Exelon Announces Retirement of Chief Investment Officer Doug Brown

Rhea-AI Summary

Exelon (Nasdaq: EXC) announces the retirement of Doug Brown, the current senior vice president and chief investment officer, with Jessica Hart set to be promoted to the role upon his retirement on July 1, 2024. Brown, who joined Exelon in 2009, managed $52 billion in assets and generated $30 billion in investment returns during his tenure. Hart, currently Exelon's vice president of Investment Strategy and Public Markets, brings extensive experience in asset allocation and portfolio construction to her new role.

Jessica Hart, Exelon’s VP of Investment Strategy to be promoted to SVP and chief investment officer

CHICAGO--(BUSINESS WIRE)-- Exelon (Nasdaq, EXC) announced today the retirement of Doug Brown, senior vice president and chief investment officer. Upon Brown’s retirement on July 1, 2024, Jessica Hart, currently Exelon’s vice president of Investment Strategy and Public Markets, will be promoted to senior vice president and chief investment officer. Hart will lead the team responsible for managing all of Exelon’s investment activities including pension funds, defined contribution plans and other employee benefit trusts.

Doug Brown, Exelon senior vice president and chief investment officer (Photo: Business Wire)

Brown joined Exelon in November 2009 as chief investment officer. He and his team were responsible for managing $52 billion in assets across multiple trusts prior to the company’s separation from Constellation, including pension funds, defined contribution trusts, other employee benefit trusts and the nuclear decommissioning trust funds. Brown and his team created incredible value at Exelon, garnering $30 billion in investment returns across all asset pools under management during his tenure. In 2022, Brown was instrumental in creating and launching Exelon’s Community Impact Capital Fund, which aims to provide more economic opportunities to businesses in under-resourced communities within Exelon’s footprint. He was also involved in the creation of the company’s Women and Minority-Owned Investment Manager Initiative. Brown was a member of Exelon’s Corporate Investment Committee and Exelon Foundation’s Board of Directors.

“It is rare and remarkable to work alongside someone who is considered an icon in the field,” said Exelon Chief Financial Officer Jeanne Jones. “It was a privilege to have Doug at Exelon. Beyond his contributions to the business, Doug has left a lasting impression on everyone who has had the honor of working with him.”

Brown has a litany of professional accomplishments including being named to Chief Investment Officer magazine’s “Power 100” list of most influential asset owners from 2013-2023. In 2022, Doug received a Lifetime Achievement Award from Institutional Investor. Brown’s professional legacy also includes mentoring several employees who have gone on to become chief investment officers, attributing their success to Brown’s leadership and guidance.

Prior to his more than a decade of accomplishments with Exelon, Brown was chief investment officer at Chrysler LLC with responsibility for all asset management activities globally, totaling $30 billion. Brown is a member of the Economic Club of Chicago and is on the Board of the Committee on Investment of Employee Benefit Assets (CIEBA) in Washington, DC. From 2018 to 2020, he served as Chairman of the CIEBA Board of Directors. Doug also serves on the Board of Trustees of the Goodman Theatre in Chicago and as an Independent Trustee and Board Chair for the National Railroad Retirement Investment Trust in Washington, DC. From 2013 to 2015, Doug served on the Board of the CFA Society of Chicago and from 2020 to 2023, he served on the Board of Directors of the William G. McGowan Charitable Fund.

Jessica Hart joined Exelon as vice president, Investment Strategy and Public Markets in July 2022, bringing with her extensive experience in asset allocation, liability driven investing, manager selection, due diligence and portfolio construction. Prior to Exelon, Hart held a range of leadership roles at Northern Trust Asset Management including leading the company’s Outsourced Chief Investment Officer (“OCIO”) Retirement Assets Practice advising corporate, public and multi-employer plans. Hart was actively involved in diversity initiatives in the Multi-Manager Solutions business at Northern Trust Asset Management and led the development of a manager diversity due diligence framework. Hart is on the Board of Youth Guidance, a non-profit providing school-based group counseling and mentoring to 7th-12th grade young men and women and holds a B.S. in Economics from the University of Wisconsin, Madison, and an MBA from New York University’s Stern School of Business.

About Exelon

Exelon (Nasdaq: EXC) is a Fortune 250 company and the nation’s largest utility company, serving more than 10.5 million customers through six fully regulated transmission and distribution utilities — Atlantic City Electric (ACE), Baltimore Gas and Electric (BGE), Commonwealth Edison (ComEd), Delmarva Power & Light (DPL), PECO Energy Company (PECO), and Potomac Electric Power Company (Pepco). More than 19,500 Exelon employees dedicate their time and expertise to supporting our communities through reliable, affordable and efficient energy delivery, workforce development, equity, economic development and volunteerism. Follow Exelon on X, formerly known as Twitter, @Exelon.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240229648188/en/

James Gherardi

312-394-7417 Media Hotline

James.Gherardi@exeloncorp.com

Source: Exelon

FAQ

Who will replace Doug Brown as the chief investment officer of Exelon?

Jessica Hart will replace Doug Brown as the senior vice president and chief investment officer of Exelon.

When is Doug Brown's retirement date from Exelon?

Doug Brown's retirement from Exelon is scheduled for July 1, 2024.

What was Doug Brown's role at Exelon prior to his retirement announcement?

Doug Brown served as the senior vice president and chief investment officer at Exelon, managing $52 billion in assets.

What significant initiatives was Doug Brown involved in at Exelon?

Doug Brown was instrumental in creating Exelon's Community Impact Capital Fund and the Women and Minority-Owned Investment Manager Initiative.

What are Jessica Hart's qualifications for the promotion at Exelon?

Jessica Hart brings extensive experience in asset allocation, liability driven investing, and portfolio construction to her new role as the senior vice president and chief investment officer at Exelon.