By David G. Barry
For the second time in the past week, a public pension fund has filled its chief investment officer position by hiring from within.
Kansas Public Employees Retirement System (KPERS) said it promoted Bruce Fink to CIO. Fink has been deputy CIO of the $24.8 billion system since 2013. Elizabeth B.A. Miller retired on July 8 after 11 years as CIO. EFL Associates oversaw the national search.
Prior to KPERS, Fink was director of investments at Saint Mary’s College in Notre Dame, Ind. He also spent time at Hufford Financial Advisors and for a short period was CIO of the Indiana Public Employees Retirement Fund.
KPERS has a team of 10 investment professionals. It provides
retirement, disability and death benefits for Kansas’ state and local public
employees. The system has more than 325,000 members.
Fink’s appointment comes on the heels of the Idaho Public Employee Retirement System (PERSI) tapping Investment Officer Richelle Sugiyama to replace the retiring Bob Maynard as CIO.
KPERS joins the joins the growing list of state public pension plans that have named new CIOs in 2022. In addition to PERSI, the list includes the New Hampshire Retirement System (NHRS), Minnesota State Board of Investment (SBI), Kentucky Public Pensions Authority (KPPA), the California Public Employees Retirement System (CalPERS), the Washington State Investment Board (WSIB), the New Jersey Division of Investment, the State of Rhode Island, the Virginia Retirement System (VRS), the Public Employees Retirement Association of New Mexico (PERA), and the Mississippi Public Employees’ Retirement System (PERS).
Other public pension funds that have opted for a CIO already on staff includes KPPPA, WSIB, New Jersey Division of Investment and PERS.
The appointment means the list of state public pension funds actively seeking a new CIO drops to three: the Pennsylvania Public School Employees’ Retirement System, the Employees’ Retirement System of the State of Hawaii and the North Dakota State Department of Trust Lands.