Jase Auby
“It has been an honor to serve the public education employees and retirees of Texas,” Auby said in a statement. “After a great deal of thought, however, I’ve decided now is the right time for me to step away and give my full attention to my health and my family following my diagnosis of kidney cancer. I’m grateful that my current health outlook is stable, and I am approaching this next chapter with hope and happiness. I leave knowing the Investment Management Division is in an exceptionally strong position as they deliver on TRS’ mission for our members.”
With $225.3 billion in assets, TRS is one of the largest pension funds in the country. A statement from TRS noted that during Auby’s tenure as CIO, the fund saw its strongest investment performance.
The fund generated an annualized 9.1% return from December 31, 2019, through June 30, 2026—approximately 1.3 percentage points better than its benchmark. Auby reported in September that the fund returned 16.5% over the one-year period that ended on June 30.
The TRS board of trustees will undertake a nationwide search for the fund’s next CIO. Auby will continue to serve as CIO through the end of January to support the leadership transition.
“Jase has been an exceptional leader and a steadfast steward of the assets entrusted to TRS on behalf of Texas public education employees and retirees,” TRS Executive Director Brian Guthrie said in a statement. “We are enormously grateful for what he has built at TRS. The investment results achieved during his tenure speak for themselves, but his lasting contribution goes well beyond performance. He leaves behind a deep, experienced investment organization with the people, processes and discipline necessary to serve our members for decades to come.”
At TRS, Auby previously held the roles of head of the investment management division’s risk group, chief risk officer and later deputy CIO, before being named CIO in 2019.
Auby began his career within Goldman Sachs fixed-income division and later joined the structured credit group at Lehman Brothers as a senior vice president. Additionally, Auby is co-chair of the Milken Institute’s Global Capital Markets Advisory Council and is a member of the financial sector advisory council of the Federal Reserve Bank of Dallas.
Auby earned a bachelor of science degree in electrical and computer systems engineering from Harvard University.