Jonathan Grushkin
Sioux Falls, South Dakota-based Sanford Health has appointed Jonathan Grushkin as CIO, according to a LinkedIn post by Grushkin this week. He will be the system’s first CIO and is tasked with shaping its investment strategy. A spokesperson for Sanford Health confirmed the hire and said Grushkin will manage a $4 billion portfolio.
“As we look to the future, we recognize the opportunity to further enhance the sophistication of our investment approach, ensuring our reserves are managed in a way that aligns with the long-term mission and strength of our organization,” said Nick Olson, Sanford Health’s executive vice president and chief financial officer, in a statement to CIO. “That is why I’m thrilled to share that we’ve named Jonathan Grushkin as our organization’s first Chief Investment Officer. Jonathan brings dedicated expertise and a wealth of knowledge.”
Grushkin is no stranger to health care plans: He has spent the last eight years in the $16.8 billion investment office of the Cleveland Clinic, most recently as director of absolute return and real assets and previously as a principal and a senior investment analyst.
“So very proud of Jonathan Grushkin on this phenomenal career opportunity,” said Stefan Strein, the Cleveland Clinic’s CIO, in a LinkedIn post. “Everyone at Cleveland Clinic Investment Office is cheering him on as he becomes another alumni or ‘graduate’ to leave us and become a CIO!”
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A significant number of CIOs have come through the Cleveland Clinic’s investment team. Grushkin joins a list that also includes Adam Smith, named CIO of Cromwell Health in 2023; the California Endowment’s Kelli Washington; and Aberdeen’s Alex Ambroz.
“I now have seven former direct reports that have become CIOs at other organizations,” Strein, named a winner in the health care/ hospital plans category at CIO’s 2024 Industry Innovation Awards, told CIO earlier this year. Grushkin makes that figure eight.
Grushkin also spent nearly five years at the Robert Wood Johnson Foundation as an investment analyst and later as a senior investment analyst.
“As CIO for Sanford Health, Jonathan will help to oversee and manage our health system’s investment portfolio, optimizing how we steward our financial resources to support continued growth, innovation and reinvestment in patient care,” Olson said in the statement. “While our financial foundation is strong, we believe we can be even better. We look forward to Jonathan’s leadership in helping to shape our investment strategy for years to come.”
Sanford Health is the largest rural health system in the U.S., according to the medical system’s website. It serves 2.4 million patients annually across South Dakota, North Dakota, Minnesota, Wyoming, Iowa, Wisconsin and Michigan.
Grushkin earned a bachelor of arts degree from Vanderbilt University and an MBA from the Darden School of Business at the University of Virginia.
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Tags: Cleveland Clinic, Jonathan Grushkin, Sanford Health, Stefan Strein
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