Steve Neel
Steve Neel, deputy CIO of the New Mexico Educational Retirement Board, has been promoted to CIO, according to a statement released Tuesday by the NMERB, which manages $20 billion in retirement assets for public school, charter school, college and university employees in New Mexico.
Neel succeeds Bob Jacksha, who retired as CIO earlier this year after holding the position since 2007. Neel, like Jacksha, is a tenured NMERB staff member. For nearly 20 years, Neel has spearheaded the development of the fund’s alternative investment platform, launched in 2006. Alternatives make up nearly half of NMERB’s assets.
In 2009, Neel launched a co-investing program, which has made more than $1 billion in commitments and has generated a 14% net internal rate of return since inception, according to NMERB. His team launched the fund’s ‘other diversifying assets’ class in 2019, an allocation that has produced double-digit returns with little to no correlation to traditional equity and credit betas, according to NMERB’s website.
As CIO, Neel will oversee NMERB’s investment strategy, portfolio management and research initiatives, according to a statement from NMERB.
“Steve’s extensive expertise and disciplined approach to portfolio management make him the ideal leader for our investment team,” said NMERB Executive Director David Archuleta in a statement. “We are confident that his strategic vision will support our continued growth, stability, and long-term success.”
Neel earned a bachelor’s degree and an MBA from the Anderson School of Management at the University of New Mexico, now known as The James & Gail Ellis School of Business Leadership.
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