Derrick Dagnan Named New Deputy Chief Investment Officer
for the Tennessee Treasury Department
Nashville, TN - Completing a nationwide search, the Tennessee Treasury Department has named Derrick Dagnan its new Deputy Chief Investment Officer. Derrick will assist Chief Investment Officer Michael Brakebill in leading the Treasury Investments Division, which is responsible for internally managing over $50 billion in state assets, including the Tennessee Consolidated Retirement System valued at over $42 Billion. Dagnan was selected from a pool of well over one hundred candidates.
Mr. Dagnan is a CFA Charter Holder who serves as a Senior Portfolio Manager with the Tennessee Treasury Department, where he has held several key leadership roles over his six-year tenure with the department. Currently, his most significant focus is leading the Strategic Lending Portfolio, which has a target of 5% of total assets, or over $2 billion at current market values. He has also managed strategic initiatives for the department, including the improvement of investment oversight of the defined contribution plans, developing the investment options for the TNStars® College Saving 529 Program, and implementing the investment program for the Tennessee Promise portfolio.
Chief Investment Officer Michael Brakebill, CFA, observed, "Derrick's strong showing in the selection process highlights the strength of the TCRS investment program which is able to attract, retain and mentor high performing investment personnel for the management of the State's resources."
Dagnan is a Tennessee native with a BS in Agricultural and Mechanical Engineering from Purdue. He has considerable prior experience as an engineer. In 2003 he obtained an MBA from Vanderbilt University, which led him to equity research positions with Jefferies and Avondale Partners. He began his career with the Tennessee Treasury in 2009 with an initial focus on health care stocks.
"Derrick Dagnan has repeatedly demonstrated his ability as a disciplined, insightful investor in these volatile markets times and as Deputy CIO he will be the perfect addition to the leadership of the excellent investment team that our CIO Michael Brakebill has assembled," said Tennessee State Treasurer David H. Lillard, Jr.