Massachusetts Pension Reserves Investment Management (MassPRIM) has promoted Sarah Samuels to the position of deputy CIO.
Samuels’ promotion comes as Tom Hanna, chief operating officer and chief financial officer at the $62 billion pension, has decided to leave the organization.
David Gurtz, current deputy CIO and director of risk management, will fill in for Hanna on an interim basis until a permanent replacement can be found, according to the Wall Street Journal. MassPRIM had not responded to a request for comment at the time of publication.
Samuels became a member of CIO’s Forty Under Forty earlier this week. She joined MassPRIM in 2011 from Boston Advisors, and has also worked for Wellington Management. In her new role she will oversee asset allocation and research, as well as the pension’s listed equity and fixed income allocations.
According to MassPRIM’s website, the pension had 42.4% invested in global equities at the end of February 2015, and 23.6% in fixed income strategies.
Tom Hanna joined the pension in 2000 as a senior investment analyst, later working as director of accounting and director of finance before becoming CFO in 2011. He previously worked at the New York State Common Retirement Fund. David Gurtz has been with MassPRIM since 2008.
According to a job posting on MassPRIM’s website, the permanent CFO/COO will be responsible for financial accounting and reporting, investment performance reporting, risk management, investment operations, corporate information technology, and general office administration. Ten years’ experience is a minimum requirement, with five years at a public pension “strongly preferred”.
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