A former executive of Vanderbilt University’s investment office has moved to Key Private Bank to assume a newly created post as managing director of asset allocation and portfolio strategy.

Bola Olusanya will direct Key Private Bank’s third-party manager research efforts, manage the bank’s new relationship with Mercer Investments, oversee the group’s portfolio construction efforts and design an asset allocation methodology applicable to all stakeholders, the Cleveland-based bank said in an announcement.

Bola Olusanya will direct the third-party manager research efforts of Key Bank's wealth management division.
Bola Olusanya will direct Key Private Bank’s third-party manager research efforts.

Olusanya reports to George Mateyo, Key Private Bank’s chief investment officer, a relative newcomer to Key Bank. Mateyo joined the bank in December 2016, replacing Tim Swanson who served as chief investment officer for two non-consecutive two-year periods.

Olusanya’s hiring comes a year after Key Private Bank recruited the former chief executive of Geller Family Office Services as head of investments, a new role that was created to expand the private bank’s client offering, Terry Jenkins, president of Key Private Bank, said at the time.

Olusanya previously served as managing director at Strategic Investment Group, an outsourced CIO firm where he co-managed its public equity portfolio and led a team of seven investment professionals. Prior to that, he oversaw numerous aspects of Vanderbilt University’s $4 billion endowment as a managing director in the university’s investment office.

Mateyo praised Olusanya’s expertise, knowledge and ability to mentor and monitor high-performing investment teams. “Bola will be invaluable to our team as we look to build out our investment management capabilities through Mercer Investments to further enhance our client experience,” Mateyo said in a statement.

Key Private Bank had $39 billion in assets under management at the end of the first quarter, it said. That’s up 14% from $34.1 billion a year ago.