The Hawaii Employees’ Retirement System has named an interim executive director – Kanoe Margol – to serve in the place of outgoing director Wesley Machida, who is leaving to head the state’s Department of Budget and Finance.
Reported by Pensions & Investments:
Mr. Machida is resigning to become the state’s director of finance and head of the Department of Budget and Finance. His last day at the pension fund is Dec. 26.
Mr. Machida said pension fund officials will launch a search for a permanent director. He did not have a timeline for the search because discussions are still preliminary.
Ms. Margol is currently the pension fund’s deputy executive director. Karl Kaneshiro, a benefits manager, will take over Ms. Margol’s deputy post while she serves as interim executive director.
The Hawaii Employees’ Retirement System manages $13.9 billion in assets.
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