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2019

Top 30 Public Pension Chief Investment Officers

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Managing billions for U.S. public employees is the critical role that these chief investment offers and their respective teams are tasked with. This list highlights long-term investment leaders, many of which who share their innovative investment strategies and career stories. We learn how they expertly navigate the markets time and time again, especially now during the late market cycle. Presenting Trusted Insight’s 2019 Top 30 Public Pension Chief Investment Officers:
Jerry Albright is the chief investment officer of the Teacher Retirement System of Texas (TRS). Albright previously served as TRS Investment Division’s deputy CIO, chief operating officer, as well as the director of investment operations. Today, he has oversight over one of the largest pools of capital in the world. It is the 6th largest public pension in the U.S. and has a portfolio structure that totals $154 billion assets under management. In 2015, the fund became a pioneer among U.S. funds by opening a successful foreign office location in London. TRS serves nearly 1.6 million active and retired educators in the state of Texas. Albright holds a degree in economics from Texas A&M University. Show more

David Villa

Executive Director & Chief Investment Officer

State of Wisconsin Investment Board

David Villa is the executive director and chief investment officer of the State of Wisconsin Investment Board since 2006. He oversees the state pension's $109.5 billion assets. Prior to this, he was the CIO for the Florida State Board of Administration and worked for UBS Global Asset Management/Brinson Partners as an executive director and client relationship manager. He is recognized around the globe as an innovative and effective leader. Villa holds an MBA from Northwestern University, an M.A. in Latin American studies from Stanford University, and a B.A. in economics from Princeton University. He holds a Chartered Financial Analyst designation. Show more
Dominic Garcia is the chief investment officer at the Public Employees Retirement Association of New Mexico, where he is in charge of a $16 billion state plan. Previously, he was a senior funds alpha manager at the State of Wisconsin Investment Board where he served for 9 years. He was mentored by David Villa, CIO of the State of Wisconsin Investment Board, who helped propel SWIB into the top tier of global institutional investors. Garcia holds a master's degree in economics from the University of Chicago and a B.A. in political science and economics from the University of New Mexico. Show more
Ronald Schmitz is the chief investment officer at Virginia Retirement System, where he oversees $80.4 billion of assets under management. Prior to this, he was the chief investment officer at Oregon Public Employees Retirement Fund and Illinois State Board of Investment. Schmitz began his career with Kraft Foods Inc., before gaining pension management experience at Sears, Roebuck & Co. He has also served as the director of investments for Blue Cross & Blue Shield Association. Schmitz has a bachelor's degree in finance from Western Illinois University and an MBA from Northwestern University. Show more

Sheila Morgan-Johnson

Executive Director & Chief Investment Officer

District of Columbia Retirement Board

Sheila Morgan-Johnson is the executive director and chief investment officer at the District of Columbia Retirement Board (DCRB). Her career includes managerial responsibilities in several other organizations, including the U.S. Securities and Exchange Commission. She formerly served as trustee and member of the Investment and Finance committees of the Lab School of Washington and Baltimore, and as a trustee of My Sister’s Place. Morgan-Johnson holds a master's and a bachelor's degree in business administration from Howard University. Show more
Christopher Ailman is the chief investment officer of California State Teachers’ Retirement System (CalSTRS), the world’s largest educator-only pension fund. He oversees an investment portfolio valued at $236.9 billion and leads an investment staff of 120 across eight teams. He joined CalSTRS in 2000 with more than 28 years of institutional investment management experience. He also serves on several boards and advisory boards in the U.S. and UK. Previously, he was the CIO of Washington State Investment Board. Ailman holds a B.A. in business economics from the University of California. He received his certified financial planner designation from the University of Southern California. Show more
Scott Chan is the deputy chief investment officer at CalSTRS. Previously, he was the senior managing director at UC Regents, the $115 billion endowment defined benefit pension plan and working capital pool. Previously, he was the chief investment officer at Sacramento County Employees' Retirement System (SCERS), the $8 billion defined benefit pension fund. Prior to that, he was a partner and portfolio manager at SF Global, Magnum Opus and TLB Capital. Chan holds an MBA in finance from Duke University and a B.A. in economics from UCLA. Show more
Bob Jacksha has been the chief investment officer for the New Mexico Educational Retirement Board (ERB) since 2007. In this role, he supervises an investment team of 14 individuals who are responsible for the management of ERB’s $13 billion investment portfolio. Prior to this role, he served as deputy state investment officer with the New Mexico State Investment Council and has had various postiions in the investment field with other organizations over the past 35 years. Bob holds both the CFA and CAIA charters, an MBA from the University of St. Thomas in St. Paul MN and a B.S. degree from Bemidji State University. Show more
Farouki Majeed is the chief investment officer at the Ohio School Employees Retirement System, where he has served since 2012. Previously, he was a senior investment officer at CalPERS for 5 years. Prior to that, he was the CIO of Abu Dhabi Retirement Pensions and Benefit Fund and the deputy director of investments at Ohio PERS. Majeed holds an MBA in finance and international business from Rutgers University. Show more
Jonathan Grabel is the chief investment officer at the Los Angeles County Employees Retirement Association. Previously, he was the CIO at Public Employees Retirement Association of New Mexico, a pension fund with $14.5 billion assets under management. Prior to that, he was the CIO at Montgomery County Public Schools. Grabel graduated from the University of Chicago, Booth School of Business with an MBA in finance and graduated from the University of Pennsylvania, The Wharton School with a B.S in economics. Show more

Mansco Perry, III

Executive Director & Chief Investment Officer

Minnesota State Board of Investment

Mansco Perry, III is the executive director and chief investment officer of the Minnesota State Board of Investment. He is an investment committee member of the Bush Foundation, a member on the board of directors of WCRA of Minnesota, and sat on the investment boards/committees of various institutions. Previously, he held CIO roles at Macalester College and Maryland State Retirement Agency. Perry holds a J.D. from Mitchell Hamline School of Law, an MBA from the University of Chicago and a bachelor's degree in history from Carleton College. Show more
Dhvani Shah is the chief investment officer at Illinois Municipal Retirement Fund, a pension fund with more than $41.3 billion of assets under management. Previously, she was the managing director of private equity of the New York State Teachers' Retirement System. Shah holds an MBA in finance, economics and organizational behavior from the University of Chicago, Booth School of Business and a BBA from Loyola University Chicago. Show more

Jon Braeutigam

Deputy Treasurer and Chief Investment Officer

State of Michigan Retirement Systems

Jon Braeutigam is the deputy treasurer and chief investment officer for the State of Michigan Retirement Systems. He has served the organization since 2008 and has significant years of investment experience with the Bureau of Investments. Braeutigam holds a master’s and a bachelor's degree in finance from Michigan State University. Show more
James H. Grossman Jr. is the chief investment officer at the Pennsylvania Public School Employees' Retirement System (PA PSERS), where he oversees the $57 billion of assets. He has been with PA PSERS since 1997, and has held various roles there, including managing director of external public markets and compliance and risk manager. Previously, he was a senior manager at KPMG US for nearly 8 years. Grossman holds a B.S. in accounting from Elizabethtown College. He holds a Chartered Financial Analyst designation.  Show more

Thomas Lee

Executive Director & Chief Investment Officer

New York State Teachers' Retirement System

Thomas Lee is the executive director and chief investment officer at the New York State Teachers' Retirement System (NYSTRS), one of the largest and public pension funds in the country. Prior to that, he was executive director at Maryland State Retirement and Pension System until 2006. Lee holds an MBA from George Washington University, a master’s degree in political science from Temple University and a bachelor's degree in political science and sociology from Dickinson College. Show more
Angela Miller-May is the chief investment officer of the Chicago Teachers' Pension Fund (CTPF). She has been with CTPF since 2010 and started out as a director of investments. Prior to that, she was a senior business analyst at Fiserv Remittance and Check Solutions. Angela holds an MBA in accounting and management from DePaul University. Show more

Ash Williams

Executive Director & Chief Investment Officer

Florida State Board of Administration

Ash Williams is the executive director and chief investment officer at the Florida State Board of Administration. The Florida SBA manages assets for the State of Florida, including the Florida RetirementSystem Trust Fund, one of the largest public pension funds. He is responsible for managing approximately $195 billion in assets, including those of the Florida Retirement System, the fifth largest public pension fund in the United States. Previously, he was managing director at Fir Tree Partners, an opportunistic value-oriented hedge fund headquartered in New York. Prior to that, he was president at Schroder Capital Management, the U.S. asset management arm of Schroders. Williams holds an MBA and a B.S. from Florida State University. Show more
Tom Tull is the chief investment officer at Employees Retirement System of Texas, a $29 billion defined benefit pension fund. Previously, he was a founding partner at Gulfstream Global Investments, an international equity investment advisor, as well as various positions managing ERISA pension fund assets. Tull holds an MBA from Xavier University and a B.S. in finance from Ohio State University. He also holds a Chartered Financial Analyst designation. Show more
Sam Masoudi is the chief investment officer at the Wyoming Retirement System, where he manages $8.6 billion in pension assets for most non-federal public employees in Wyoming. He also oversees the $700 million defined contribution fund and is an advisory committee member of the $21 billion State of Wyoming Treasury investment fund. Previously, he was a managing director at Tulane University, where he sourced and monitored marketable and non-marketable alternative investment managers. Prior to that, he was a portfolio manager and founder of Silver Peak Capital Management, LLC. Masoudi holds a B.S. in finance and investments from Babson College. He holds the Chartered Financial Analyst and Chartered Alternative Investment Analyst designations. Show more

Craig Slaughter

Executive Director & Chief Executive Officer

West Virginia Investment Management Board

Craig Slaughter is the chief investment officer of the West Virginia Investment Management Board, the entity responsible for investing the state's defined benefit plans and Workers' Compensation Funds. Slaughter has been responsible for the State's investment portfolio since leaving the practice of law in 1989. He a Chartered Financial Analyst, has a J.D. from West Virginia University and a B.A. in history from Cornell University. Slaughter is a member of the National Association of Public Pension Attorneys and the West Virginia State Bar. He also serves on the board of the West Virginia Land Trust, and as Chairman of the BridgeValley Community and Technical College Foundation. Show more
Steve Edmundson is the investment officer at the Public Employees' Retirement System of Nevada (NVPERS) since December 2012. He oversees all aspects of the system’s $44 billion investment program, including investment operations, compliance, research, manager oversight, and implementation of investment strategy. He received a B.A. from Montana State University, Bozeman and a master's degree in public administration from the University of Nevada, Reno. Show more
Robert Maynard is the chief investment officer at the Public Employee Retirement System of Idaho (PERSI), a pension with $18 billion in assets under management. Prior to PERSI, Maynard served as deputy executive director of the Alaska Permanent Fund Corporation and as assistant attorney general for the state of Alaska. Maynard received his J.D. from the University of California, Davis School of Law and graduated from Claremont McKenna College. Show more
Andrew Palmer is the chief investment officer of the Maryland State Retirement & Pension System, where he oversees $51 billion of assets under management. Previously, he served as the deputy CIO of the Tennessee Office of the Treasurer. His career in the private sector started in 1985 at ASB Capital Management, where he progressed from credit analyst to director of fixed income. Palmer holds an M.A. and B.A. in economics from the University of Maryland College Park. Show more
Craig Husting is the chief investment officer for the Public School and Education Employee Retirement Systems of Missouri, where he oversees a $42 billion investment portfolio. Previously, he was the director of investments and deposit programs for the Missouri State Treasurer’s Office, where he managed all aspects of the State’s $3.5 billion investment portfolio. He also worked in county government as the Deputy Treasurer for the Johnson County, KS government. Husting earned an MBA from the University of Notre Dame and a B.A. degree from Benedictine College in Atchison, Kansas. He also holds the Chartered Financial Analyst designation. Show more
Paul Greff is the chief investment officer at Ohio Public Employees Retirement System (OPERS), where he had served for over 10 years. Prior to his CIO role, he was the head of global bonds at OPERS. Prior to that, he was a senior managing director at State Street Global Advisors for nearly 12 years. Paul holds an MBA in economics from the University of Detroit and a B.A. in political science at Kalamazoo College. Show more
Bruce Cundick is the chief investment officer at the Utah Retirement Systems, a $28 billion state pension fund. Previously, he was the chief financial officer and CIO at Beneficial Life Insurance Company, where he directed $2 billion portfolio of fixed income, mortgage-backed and equity securities. Prior to that, he was president and CEO at Deseret Federal Savings and Loan. Bruce holds an MBA and a B.A. in accounting from the University of Utah. He holds the Chartered Financial Analyst and a Certified Public Accountant designations. Show more
Karl Polen is the chief investment officer at the Arizona State Retirement System (ASRS), where he oversees $40 billion in assets under management. Previously, he was the head of private markets for ASRS. He also served as executive vice president of Pivotal Group and senior vice president and CFO for Robson Communities. He holds an MBA from Vanderbilt University and a B.A. from the University of Illinois. Show more
Scott Davis is the chief investment officer of the Indiana Public Retirement System (INPRS), a pension fund with approximately $35 billion in assets under management across both defined benefit and defined contribution plans. He has served the organization since 2010 and had held various positions. Prior to joining INPRS, he was the Director of Debt Management at the Indiana Finance Authority. Davis holds a B.S. with honors from the Kelley School of Business at Indiana University, with majors in accounting and finance. He is also a Chartered Financial Analyst charterholder. Show more
Amy McGarrity is the deputy chief investment officer at the Colorado Public Employees' Retirement Association. Prior to her current title, she was a senior investment officer at the organization. Prior to that, she was CIO of the Denver Public Schools Retirement System (DPSRS). McGarrity has also served organizations such as Buck Consultants, Mercer Investment Consulting, and Caxton. She holds a bachelor's degree in finance from the University of Wyoming and an MBA from Rider University. Show more
Kirk Stebbins is the chief investment officer of Oklahoma Teachers' Retirement System, a pension with $16.9 billion in assets under management. Previously, he served as CIO at the City of Austin Employees' Retirement System. He has over 25 years of experience working with institutional investments in various capacities. Stebbins holds an M.S. in finance from Texas A&M University and a B.S. from Louisiana Tech University. He also holds a Chartered Financial Analyst designation. Show more

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