NEWS

Wyoming State Treasurer CIO to retire in June 2025

By Muskan Arora

Patrick Fleming, CIO of the $30bn Wyoming State Treasurer’s Office announced he will be retiring on June 30, 2025.

As per the statement, the search for a new CIO will begin in a few months.

Fleming succeeded Michael Walden-Newman, who left the sovereign wealth in 2014 to become the CIO of Nebraska Investment Council. Newman retired from that position in 2023.

Fleming has led the office’s investment division which oversees the state assets including the Permanent Mineral Trust, Common School Permanent Land Fund and Workers Compensation Fund since 2015.

“I really enjoy my work and am proud of how our office has grown and what we have accomplished,” Fleming said in the press release.


Click Here for More Information



“There are still a few things I’d like to see us complete before I step aside at the end of June, but I felt it was appropriate to announce this decision now so I can help the Treasurer work with the Legislature and create a generational fund – which I also believe is vital for our State’s future – as well as provide ample time to implement a succession plan,” he added.

Fleming was hired by Governor Mark Gordon with an intention of increasing returns and minimizing risks on the State’s investments while also decreasing fees the State had been paying to out of state managers.

Under Fleming’s leadership, the Treasurer’s Office has instituted a volatility-based risk measurement system while moving away from traditional equity/bond approaches.

Fleming joined the Treasurer’s Office in 2014 and started as a one-man office charged with generating the greatest fiscally responsible return on the State’s $19 billion sovereign wealth fund.

Before joining the system, he served as the CEO of Barclays Investments and held positions at Leman Brothers, Salomon Brothers and Pinnacle World Investments.