Executive Shakeup at MassPRIM as Top Official Steps Down, New Deputy CIO Appointed

Two big personnel moves played out this week at the Massachusetts Pension Reserves Investment Management, as one top official stepped down and another stepped up.

The pension fund’s chief financial and operating officer, Tom Hanna, stepped down from his post this week after 15 years. From the Boston Globe:

According to an internal memo to managers and directors of the $61 billion public fund, Hanna decided to take time off after undergoing major surgery two years ago.

There will be a search to replace Hanna. In the interim, David Gurtz, who has been in charge of risk management, will assume Hanna’s duties.

“We are grateful to Tom for his 15 years of service,’’ the fund’s executive director, Michael Trotsky, said in the memo. He said that while the Pension Reserves Investment Management group has had “many strong contributors over the years, it is hard to imagine anyone making a stronger and more positive contribution to PRIM than Tom.”

Meanwhile, the fund has promoted Sarah Samuels to deputy chief investment officer. From ai-cio.com:

Massachusetts Pension Reserves Investment Management (MassPRIM) has promoted Sarah Samuels to the position of deputy CIO.

[…]

Samuels became a member of CIO’s Forty Under Forty earlier this week. She joined MassPRIM in 2011 from Boston Advisors, and has also worked for Wellington Management. In her new role she will oversee asset allocation and research, as well as the pension’s listed equity and fixed income allocations.

MassPRIM manages approximately $62 billion in assets.

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