Bachher, 41, succeeds Marie Berggren, who retired in July 2013 after 11 years of service.
“I’m grateful and humbled by this phenomenal opportunity to join the University of California,” Bachher said. “I know that working to ensure the health and longevity of the university’s financial assets has a direct impact on UC’s educational, research and public service mission. This is a chance to really make a difference.” Bachher has been with Alberta Investment Management Corp. (AIMCo), based in Edmonton, Canada, since 2009. His current title is executive vice president, venture and innovation, and he served previously as the corporation’s deputy chief investment officer and chief operating officer. AIMCo, which is governed by an independent board of directors, invests some $70 billion on behalf of public sector pension plans, provincial endowments and government funds. Bachher, who has a doctorate in management sciences, has been a champion for change in the investment business and gained an international reputation as an innovator. He is a visiting scholar in the Global Projects Center at Stanford University and chairman emeritus of the Institutional Investors Roundtable, a leading financial think tank. He is a Canadian citizen with legal U.S. residency. “Jagdeep Bachher brings to the table his investment acumen, management expertise, scholarly research and great social skills,” said UC President Janet Napolitano. “I welcome him to the university.”
The UC Board of Regents approved an annual base salary for Bachher of $615,000, to be funded entirely from non-state sources.