By Muskan Arora
The Maryland State Retirement Agency named Thomas Kim as a joint deputy CIO for both the $67.7bn Maryland State Retirement and Pension Systems,
as per an announcement on Friday.
Kim will report to Andrew Palmer, the agency’s CIO and will
work closely with his counterpart, Robert Burd, co-deputy CIO, in providing strategic direction
and counsel across the entire investment portfolio.
“With
nearly three decades of combined investment experience in public and private
sectors, I am confident that his expertise will continue to strengthen and
secure the financial future of Marylanders,” said Andrew Palmer, in a recent
release.
Prior to
joining the pension plan, Kim served as deputy CIO for the $106bn Tennessee Consolidated
Retirement System (TCRS).
While working as a director of fixed income at TCRS, Kim was
responsible for high FI returns posting 135 basis points, 18 bps, 33 bps and 34
bps over 1,3,5 and 10-year periods.
“At SRA,
both our investment and operational approach are a team sport mentality, and the
right mix of skills and strengths is critical to our success. Tom will play an
integral role in carrying out our Board of Trustees’ strategic priorities and
future-focused objectives,” said Executive Director Noven.
The system reported average one-, three-, five-, and 10-year returns of 7.93%, 2.57%, 7.50% and 6.38%, as of March 31.
