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Ackman’s Pershing Square Names CIO to Address ‘Pie Truck Risk’

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Bill Ackman

Bill Ackman

Photographer: Christopher Goodney/Bloomberg

Bill Ackman’s Pershing Square Holdings Ltd. named Ryan Israel as chief investment officer as part of the fund’s succession planning. 

Ackman, 56, will continue as chief executive officer and portfolio manager, retaining control over ultimate decision making. The move addresses what the billionaire investor calls “pie truck risk” -- which is if he looks the wrong way when crossing the street and gets “smooshed” by a pie truck.