NEWS

Wyoming State Treasurer has started its search for the next CIO

By Muskan Arora

The $31bn Wyoming State Treasurer’s Office has begun its search its next CIO, following the retirement of the current CIO Patrick Fleming.

Fleming expects the new CIO to be placed by June, and the search is being led by Hudepohl & Associates.

Fleming, who joined the plan in 2014, applies the KISS principle (keep it simple stupid) to avoid costs associated with unwinding complex trades.


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During his tenure, Fleming grew his “one man shop” from $19bn to $30bn with building a team of 10 investment professionals.

In an exclusive interview with Markets Group, Fleming stated that the new CIO should have “10-plus years of experience of managing $500 million or more for various asset classes alongside managing funds internally.”

The fund returned 13.6%, 4.6% and 6.1% respectively for its 1-,3- and 5-year return against a benchmark of 13.2%, 3.6% and 5.4%, as of fiscal year ending September 30. 

 The plan is divided into 13 distinct pools, permanent and non-permanent funds, many with their own mandates, asset allocations, and spending policies.