Another Cleveland Clinic alum has ventured out on their own to become chief investment officer. The most recent case is Jonathan Grushkin, who has joined Sanford Health as its first CIO.

A Sanford Health spokesperson confirmed via email that Grushkin — one of Institutional Investor’s Rising Stars for 2023 — will manage the Sioux Falls, S.D.-based system’s $4 billion portfolio. CFO Nick Olson said in a statement that he was “thrilled” to have Grushkin on board to improve upon the system’s investment strategy — particularly leveraging his recent experience with absolute return and real assets.

“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,” Olson said. “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.”

Prior to joining Sanford Health, Grushkin had been at Cleveland Clinic for eight years. Most recently, he was director of absolute return and real assets. He has also held investment positions with the Robert Wood Johnson Foundation and Mercer.

Grushkin joins other Cleveland Clinic alum who have become CIOs including Adam Smith joining Corewell Health in 2023 and Kelli Washington, who joined the California Endowment in 2024. Cleveland Clinic’s CIO Stefan Strein wrote on LinkedIn that he was “very proud of Jonathan Grushkin on this phenomenal career opportunity,” before “cheering him on as he becomes another alumni or ‘graduate’ to leave us and become a CIO!”