Virginia Retirement System Appoints Acting Director; Search Begins for Permanent Replacement

now hiringOn the heels of the resignation of Virginia Retirement System director Robert P. Schultze, the system’s trustees have named a new acting director: Patricia S. Bishop, who also serves as VRS’ deputy director.

The system will begin looking for an executive search firm to find its next, permanent director.

From Pensions & Investments:

Patricia S. Bishop will serve as acting director for the $66 billion Virginia Retirement System, Richmond.

The announcement was made at the board of trustees meeting Friday. Current director Robert P. Schultze is leaving Feb. 16 to become the president and CEO of ICMA-RC.

Ms. Bishop, who joined VRS in 2008, is currently deputy director, overseeing implementation of benefit policy and processing, retirement counseling, call center services, training and education services, and insurance programs.

The VRS staff was instructed to prepare an RFP for an executive search firm to find a permanent replacement.

Robert P. Schultze announced his resignation from VRS earlier this month.

VRS manages $66 billion in assets.


Photo by Nathan Stephens via Flickr CC License

Illinois Universities Pension Hires Search Firm to Find New Executive Director

NOW HIRINGWilliam Mabe, executive director of the State University Retirement System of Illinois (SURS), announced in September that he would be retiring on March 31.

SURS has now hired an executive search firm, the Hollins Group, to find his replacement before Mabe’s retirement date.

From the Associated Press:

The State Universities Retirement System has hired a search firm to help it find a new director.

The executive committee of the SURS board of trustees voted this month to hire The Hollins Group of Chicago.

Executive Director William Mabe (MAYB’) plans to retire in March.

Derrick Buckingham will serve as lead consultant. He is senior vice president and managing director for The Hollins Group.

In a September interview with the Chicago Sun-Times, Mabe talked about the reasons behind his retirement:

Mabe, 67, said in an interview…that he could have stayed on for another three years, but chose to retire now to do other things with his life.

“I’ve been here for five years and I’ve stayed as long as I had planned to stay,” Mabe said. “The pension issue had nothing to do with it. It’s still lingering in the courts, and (the SURS leadership) did the heavy lifting we had to do. … I wanted to retire when that was completed and things were quiet.”

SURS has 227,000 members.


Photo by Nathan Stephens via Flickr CC License

Missouri Fund Looking For Next Executive Director; Announces Hiring of Search Firm

NOW HIRINGMissouri’s second-largest public pension fund has hired a firm to search for its next executive director, after its current director announced plans to retire by 2016.

From Pensions & Investments:

Missouri State Employees’ Retirement System. Jefferson City, hired EFL Associates as an executive search firm for its search for an executive director, said Candy Smith, spokeswoman.

The $9.3 billion pension fund issued an RFP in April following Executive Director Gary Findlay’s announcement he plans to retire on Dec. 31, 2015. He joined the pension fund as executive director in 1994.

Ms. Smith said the pension fund plans to finalize the parameters of the executive director position at its Nov. 20 meeting, and that EFL will launch the search next year.

The job description listed on the EFL website reads:

Ideal candidates will have significant leadership experience in a public pension system, financial services organization or other customer service-oriented organization; 5+ years of staff management experience, demonstrated fiscal management, budgeting/planning skills; project management skills related to IT initiatives, experience managing external relationships, including legislative ones; an understanding of actuarial concepts; and working knowledge of institutional investment concepts. For additional information, please click on the link (the Position Title) and email us your resume for Position 7394.