The Municipal Employees Retirement System (MERS) of Louisiana has hired a permanent investment chief.
Christopher Saik, who previously served as CIO of the Louisiana School Employees’ Retirement System (LSERS), has joined the nearly $800 million fund, his LinkedIn confirmed.
The Baton Rouge, Louisiana-based municipal fund had been looking to add a CIO to its staff as early as January of 2016, according to board meeting minutes.
MERS’ board then formed a subcommittee to perform a search for an investment chief in February, with the help of its consultant Meketa Group.
Saik was selected out of five qualified applicants, the minutes continued.
The newly appointed CIO had served as investment head at the $1.7 billion neighboring fund LSERS from July 2014 to October of this year. He was interim CIO for six months prior to becoming a permanent chief.
The CIO position at LSERS is still vacant, according to its website. The fund is looking for a “highly qualified” CIO with a minimum for four years of investments experience “preferably in public sector pension administration, retirement administration, or investment consulting.”