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Deals and People September 9, 2010
New Mexico Hires Kansas Pension System CIO
September 9, 2010 (PLANSPONSOR.com) – The New Mexico State Investment Council has hired a Kansas pension fund official as the deputy state investment officer.
Reported by Rebecca Moore
Robert “Vince” Smith will be paid $212,500 a year, and will start September 27, the Associated Press reports. The State Investment Council manages funds valued at more than $13 billion.
Smith has served as chief investment officer for the Kansas Public Employees Retirement System since 2006. He received a bachelor’s degree in business administration from Montana State University in 1987, and has worked for the Employees Retirement System of Texas and the Montana Board of Investments, according to the news report.
Last year, the State Investment Council and pension funds administered by the Educational Retirement Board and the Public Employees Retirement Association underwent an audit of investment practices because of questions about millions of dollars in fees paid to placement agents by firms that won state investment deals (see NM to Undergo Independent Review of Investment Practices).