BATTLE CREEK, Mich. – After a highly-competitive, national search, the W.K. Kellogg Foundation (WKKF) is pleased to announce the selection of Carlos Rangel as vice president and chief investment officer (CIO), effective Feb. 1. In this role, he will serve as a member of the executive council, reporting to La June Montgomery Tabron, WKKF president and CEO, replacing CIO Joel Wittenberg, who is retiring after 11 years at the end of this month.
Most recently, Rangel has been leading the Expanding Equity work for WKKF, after joining the foundation in 2010 as a portfolio manager. As CIO, Rangel will be responsible for the management and oversight of both the foundation’s endowment and the W.K. Kellogg Foundation Trust investments, strategically investing the diversified portfolio to maintain its purchasing power in support of WKKF’s mission over the long term. In addition, he will provide leadership for team execution and quality performance against allocation targets and shape the development of research and analysis toward fact-based improvements to short- and long-term asset allocations.
“Carlos made a personal commitment many years ago to spend his career putting the financial markets to work for the benefit of society and understands that every dollar the foundation earns on our investments improves conditions for children,” Tabron says. “He also has been a leader for WKKF toward broadening the adoption of racial equity within the financial sector and business community, while generating more dollars for grants. We are delighted to have someone with so much insight and expertise in this role.”
With more than 20 years of career experience, a deep knowledge of the foundation’s portfolio and approach, and an enduring commitment to racial equity, Rangel has a crystal-clear vision of the foundation’s investment strategies, as well as proficiency in international investments and asset management.
Most recently, as director of investments for the foundation, Rangel has been leading the newly-launched Expanding Equity initiative for WKKF. During his more than a decade tenure at WKKF, he has contributed his skill and innovative approaches to investments as he worked his way up to his most recent position as director of investments, to which he was appointed in 2017.
Prior to joining WKKF, he worked for Managed Assets Portfolios (MAP), a boutique, SEC-registered, global value investor serving individuals and institution. As a buy-side generalist analyst, Rangel focused mainly on small and midcap technology stocks, where he was responsible for idea generation, primary research and financial analysis for each of the companies recommended.
Fluent in Spanish, he volunteers for a number of charitable organizations including Family & Children Services as a member of the board, Endowment Committee and chair of the Operating Committee.
Rangel holds a bachelor’s and a master’s degree in finance from the University of Michigan-Dearborn. He is certified as a CFA (Chartered Financial Analyst), FRM (Financial Risk Manager), CAIA (Chartered Analyst of Alternative Investments) and CIPM (Certificate in Investment Performance Measurement).
About the W.K. Kellogg Foundation
Founded in 1930 as an independent, private foundation by breakfast cereal innovator and entrepreneur Will Keith Kellogg, is among the largest philanthropic foundations in the United States. Guided by the belief that all children should have an equal opportunity to thrive, WKKF works with communities to create conditions for vulnerable children so they can realize their full potential in school, work and life.
The Kellogg Foundation is based in Battle Creek, Michigan, and works throughout the United States and internationally, as well as with sovereign tribes. Special attention is paid to priority places where there are high concentrations of poverty and where children face significant barriers to success. WKKF priority places in the U.S. are in Michigan, Mississippi, New Mexico and New Orleans; and internationally, are in Mexico and Haiti.