Chief Investment Officer Program
Lead Investment Strategy Across Markets, Risk, Governance, and AI
Program Overview
The Chief Investment Officer Program prepares senior investment leaders to take on the CIO role with confidence. Participants learn to make sound investment decisions, translate strategy into action, and communicate effectively with boards and investment committees. The program also explores how AI is reshaping investment management and equips leaders to navigate uncertainty, market shifts, and evolving stakeholder expectations.
What You Will Learn
Curriculum
Course 1: Asset Landscape
Examine public, private, and real assets while defining investment beliefs and the institutional constraints that shape portfolio design and investment decisions.
Modules:
Public Markets in the New Regime: Analyze evolving equity and fixed-income market dynamics in a changing economic environment.
Private Markets and the Illiquidity Premium: Explore private-market opportunities, illiquidity premiums, and portfolio implications.
Real Assets, Infrastructure, and the Inflation-Sensitive Portfolio: Assess real assets as tools for inflation sensitivity, diversification, and long-term value creation.
Investment Philosophy and Portfolio Objectives: Translate investment opportunities, constraints, and beliefs into portfolio design decisions.
Course 2: Portfolio Design and Management
Design institutional portfolios by translating investment beliefs into asset allocation, manager selection, risk and liquidity management, implementation, and performance evaluation.
Modules:
Strategic Asset Allocation in Practice: Evaluate capital-market assumptions and their impact on portfolio construction.
Manager Selection and Due Diligence: Assess managers through alignment, skill persistence, fees, and operational diligence.
Alpha Capture Programs: Explore approaches to identifying, measuring, and scaling sources of alpha.
Systematic Investing: Examine quantitative investing, factor strategies, and portfolio construction frameworks.
Liquidity, Rebalancing, and Portfolio Operations: Develop approaches to liquidity management, rebalancing, and portfolio operations.
Behavioral Alpha and Performance Attribution: Use attribution and behavioral analysis to strengthen investment decision-making.
Course 3: Regulations, Taxes and Governance
Examine the fiduciary, regulatory, tax, and governance frameworks that shape investment decisions and institutional oversight.
Modules:
The Fiduciary and Regulatory Frame: Understand fiduciary obligations, regulatory requirements, and investment constraints.
Tax-Aware Investing and Governance Architecture: Explore tax-efficient investing and effective governance structures.
Course 4: Risk, Crisis, and Regime Change
Develop approaches to recognizing regime change, responding to market disruption, and preparing portfolios for extreme scenarios.
Modules:
Recognizing the Break: Identify signals of structural market and economic change.
Posture Under Extremes: Prepare portfolios and governance processes for high-impact scenarios.
Note: Session topics are subject to change. Live sessions will be held every Tuesday and Thursday from 8:00 to 9:30 AM (Chicago time).
On-Campus Immersion
Engage in an immersive, application-focused learning experience that brings together AI, leadership, and the capstone project through faculty-led discussions, interactive exercises, and practical investment scenarios.
AI Investment Leadership: Evaluate practical applications of traditional machine learning, generative AI, and agentic systems across the investment lifecycle, including market monitoring, manager selection, portfolio analysis, decision support, and risk governance.
CIO Leadership Class + Capstone Defense: Examine stakeholder dynamics and high-stakes communication in the CIO role, including board and investment committee dynamics and crisis communication. The day culminates in a capstone simulation in which participants defend a stress-tested Investment Policy Statement before a mock investment committee, practicing the discipline required to explain and defend investment decisions under regime-change conditions.
Capstone Project
This project, which is centered on the development of an IPS grounded in the program’s core principles and frameworks, is the culmination of the knowledge gained throughout the program. The IPS is stress-tested against a regime-change scenario and defended before a mock investment committee during the on-campus experience.
Learning Experience
Program Highlights
Live Learning Led by Instructors
Participate in live online sessions led by Chicago Booth instructors and industry experts.
Comprehensive Investment Leadership Curriculum
Build expertise across markets, portfolio design, governance, AI, and leadership.
Capstone Project
Develop and defend an Investment Policy Statement in a simulated investment committee setting.
On-Campus Experience
Engage with faculty and peers during a two-day immersion at the Chicago Booth campus.
Real-World Investment Application
Apply concepts through practical investment scenarios and decision-making frameworks.
Chicago Booth Credential
Earn a Certificate of Completion and digital badge from Chicago Booth Executive Education.
Who It Is For
The Chief Investment Officer Program is designed for senior leaders navigating the evolving demands of investment leadership, including:
Directors, heads, and managing directors of investments
Investment strategists, portfolio leaders, and heads of asset allocation
Early-tenure CIOs and deputy CIOs stepping into broader portfolio responsibility
Leaders across equities, alternatives, and portfolio management
Meet Your Teaching Team and Contributors
Massimiliano Castelli
Head of Strategy, Global Sovereign Markets, UBS Asset Management
Massimiliano Castelli is a Managing Director at UBS Asset Management, where he serves as Head of Strategy for Sovereign Institutions. He advises sovereign wealth funds, centra...
Michele Gambera
Investment and Risk Management Leader
Michele Gambera, PhD, CFA, is Head of Economic Analysis at Northfield Information Systems, a leading risk management analytics provider known for its research-based applicatio...
Pietro Veronesi, PhD
Deputy Dean for Faculty and Sherman and Vivian Chao Distinguished Service Professor of Finance The University of Chicago Booth School of Business
Pietro Veronesi is the Sherman and Vivian Chao Distinguished Service Professor of Finance at the University of Chicago, Booth School of Business. He is also a research associa...
Vito Gala
Adjunct Professor of Finance
Vito D. Gala is the Global Head of Systematic Investing and Quantitative Research at Morningstar Investment Management LLC. He leads the firm’s global systematic investing bus...
Certificate
Upon successful completion of the Chief Investment Officer Program, participants receive a Certificate of Completion from Chicago Booth Executive Education, along with a digital badge.
Note: Certificates and digital badges are issued in the name used during program registration. Images are for illustrative purposes and may be updated at the discretion of Chicago Booth Executive Education.
Chicago Booth Benefits
Program participants gain access to exclusive benefits:
CXO Networking & Events: Invitations to future in-person CXO events, panels, and networking opportunities (limited spots; additional fees may apply).
Discounted Booth Events: Reduced registration for select programs, including the Booth Management Conference, Faculty Firesides, Economic Outlook, and Faculty in Residence sessions.
Executive Education Savings: 10% tuition discount on select professional and executive education programs.
Chicago Booth Review: Complimentary subscription to the flagship publication featuring faculty research, insights, and commentary.
Alumni Network: Access to a private LinkedIn group connecting past participants across Booth’s CXO portfolio.
Certificate & Digital Credential: Earn a Certificate of Completion and a shareable digital credential to showcase on LinkedIn.
Exclusive Booth SWAG: Branded merchandise distributed at CXO in-person events.
FAQs
What is the program format?
The program consists of live online sessions with Chicago Booth faculty, plus a two-day in-person immersion.
How long is the program?
This is a 10-week program.
Who is this program for?
The program is designed for senior-level investment professionals (assistant vice presidents and up) with 10+ years of leadership experience.
What will you learn?
You will strengthen portfolio judgment, governance insight, AI fluency, and executive investment communication.
Is prior investment experience required?
Yes. You are expected to bring strong professional experience in investment or portfolio roles.
Is the program fully online?
The program is primarily online, with one in-person component.
What do you receive upon completion?
You will receive a Certificate of Completion and a digital badge from Chicago Booth Executive Education.
How does the admissions process work?
Submit an application and pay the application fee. Accepted candidates receive enrollment instructions.
Is this a degree program?
No. This is an executive education program.
Are any taxes applicable to this program?
Applicable taxes will be calculated and added at checkout in accordance with country/state regulations.
Connect with a Program Advisor for a 1:1 Session
Schedule a call to get expert guidance with one of our Program Advisors or call us at +1 315 809 3899.
Enroll now and save your spot.
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