Pasternack Leaves Role with NYCRS to join Nomura

By David G. Barry

Brent Pasternack has left his role with the New York City Retirement System (NYCRS) to take a key role with Nomura.

Pasternack is now head of private credit research with the financial services firm. He spent three years at NYCRS as a senior investment officer – alternative credit.

Previously, Pasternack held roles with Russell Investments, Alternative Capital Advisers, Mariner Investment Group, Schonfeld Group and GM Asset Management.

Tina Suo became head of NYCRS’ alternative credit group earlier this year. She joined NYCRS in 2019 after being senior director, fixed income investments, New York Life Investment Management.

Also, earlier this year, Steven Meier was named NYCRS’ chief investment officer by New York City Comptroller Brad Lander.

As of June 30, the end of its fiscal year, NYCRS – comprised of the city’s five pension funds – had approximately $240 billion in assets. It reported a negative 8.65% return, which it said was above its benchmark. It did not, however, disclose what its benchmark was.

With Pasternack’s departure, NYCRS’ investment unit – formally known as the Bureau of Asset Management – now has 23 openings, including one other on its alternative credit team.

Among the other positions that BAM is seeking to fill is deputy CIO. Shaquana J. Chaneyfield, a deputy press secretary for Lander, said the position is one that has been open and has been reposted.

NYCRS also has multiple openings on its real estate and private equity teams.