Decision-Maker Moves: New CIOs for South Carolina Pension, UT Endowment

October brought a handful of major changes in the investment departments of pension systems, foundations and endowments. Here’s a roundup:

Connecticut Treasury Names Deputy CIO for $30B Pension System

Laurie Martin joined the Connecticut Treasury Department this month to serve as the Deputy Chief Investment Officer for the $30 billion Connecticut Retirement Plans and Trust Funds (CRPTF).

Martin will serve directly under CIO Deborah Spalding, who was hired last year after the retirement of long-time CIO Lee Ann Palladino.

Martin’s background, per a Treasury release:

Martin joins the Connecticut Treasury after serving twelve years as Director of Treasury Services at Baystate Health, Inc. There, she managed the company’s integrated investment program which included endowment, pension (defined benefit and defined contribution), insurance assets and operating funds. Prior to Baystate Health, Martin held investment accounting positions at ITT Hartford and Mass Mutual Life Insurance Co. She began her career at KPMG Peat Marwick as an audit and tax specialist.

Mark Warner has been tapped as interim CIO of the University of Texas Investment Management Company (UTIMCO).

Previous CIO Bruce Zimmerman resigned in mid-October, and the search for his replacement is underway. In the meantime, Warner will be at the help of the $37 billion endowment.

Warner has been with UTIMCO for 8 years, and served as head of natural resources investments. He’s also been responsible for the endowment’s emerging markets and private equity portfolios.

New CIO for $28B South Carolina Retirement System

Geoffrey Berg has been tapped as the new CIO for the South Carolina Retirement System Investment Commission, the entity which manages investments for the state’s $28 billion retirement system.

Berg had already been serving as acting CIO for 12 months, following the departure of previous investment chief Hershel Harper.

The System hired executive recruiter Korn Ferry to search for the new CIO; but the firm found the best candidate was already working in the position.

Colorado Public Employees CIO To Retire

Jennifer C. Paquette announced, CIO for Colorado’s $44 billion Public Employees’ Retirement Association (PERA), will retire in the first quarter of 2017.

PERA is looking to hire a search firm to begin the process of finding Paquette’s successor, according to a release.