The pension plan has agreed to keep its executive director on paid administrative leave through May in order for him to receive “professional development.”
The search is being conducted due to the incumbent’s contract expiration.
The leadership changes will “support the firm’s ongoing growth and future direction.”
The pension plan disclosed two buyout commitments at yesterday’s board meeting.
The new executive director has been with the retirement system for roughly 30 years.
The hire concludes a search launched in May due to the incumbent’s contract expiration.
The divestments stem from New York State Comptroller Thomas DiNapoli’s Climate Action Plan.
The pacing plan and target allocation changes were recommended as part of an annual real estate program review.
The hire concludes a search that was launched in August.
The investment officer will support the management of the plan’s approximately $13 billion public equity portfolio.