NEW YORK, May 11 (Reuters) - The chief investment officer of New York State’s $209 billion public pension system will retire this summer, State Comptroller Thomas DiNapoli said on Friday.
Vicki Fuller will end her six-year tenure at the New York State Common Retirement Fund, the third-largest public pension fund in the United States.
Fuller, who manages the fund’s day-to-day operations and investments as CIO, has not yet provided an exact date when she will leave, spokeswoman Jennifer Freeman said.
Determining who will take over the CIO role is under discussion, Freeman said. Fuller was hired in August 2012 after an executive search.
Unlike some other states’ public retirement systems, New York’s pension is well-funded. The two main systems that comprise the fund were nearly 95 percent and 94 percent funded as of March 2017, according to the most recent annual financial report.
Under Fuller’s tenure, the New York’s system has “led the nation as one of the best managed public pension funds,” DiNapoli said in a statement.
It has had an average annual growth rate of more than 8.75 percent, he said.
“Vicki’s creative and strong leadership leaves us with an excellent management team and increased operating efficiencies,” he said, noting that she had helped integrate environmental, social and governance factors into the state’s investment process.
Fuller said in the statement that her colleagues at the fund “have been an inspiration and an extraordinarily dedicated team of talented and genuinely nice people.”
She said there were several goals she wanted to pursue but did not elaborate. (Reporting by Hilary Russ; Editing by Daniel Bases and Dan Grebler)