Monte Tarbox Named Interim CIO of NYC Pension System

Monte Tarbox

New York City Comptroller Mark Levine announced on Tuesday the appointment of Monte Tarbox as interim CIO of the New York City Bureau of Asset Management, the entity that manages the investments of the city’s five pension funds.

Search consultant Korn Ferry was hired to conduct a nationwide search to find a permanent successor for Steven Meier, who resigned as CIO in October 2025 and later took a role at Neuberger Berman.

As interim CIO, Tarbox will assist in the oversight of the five NYC pension systems—the Teachers’ Retirement System, the Employees’ Retirement System, the Police Pension Fund, the Fire Pension Fund and the Board of Education Retirement System. The five funds collectively managed $311.35 billion, as of the end of November 2025.

“It is an honor and a privilege to join Comptroller Levine’s administration and execute the crucial work of delivering retirement security to our retirees and active employees,” said Tarbox in the announcement. “Public service has always been a core value for me, and I welcome the opportunity to serve New York City and its hardworking employees at this important moment.”

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Tarbox has held several roles in pension investment management over a three-decade career. He was previously president of the AFL-CIO Investment Trust Organization from 2023 until 2024. He also was executive director of the National Electrical Benefit Fund and CIO of the International Association of Machinists and Aerospace Workers National Pension Fund.

Tarbox was named to the advisory committee of the Pension Benefit Guarantee Corporation in 2024 by former President Joe Biden. He also is a member of the investment committee of the Maryland State Retirement and Pension System.

Tarbox earned a bachelor of arts degree in political economy from Carleton College in Minnesota and an MBA in finance from the Booth School of Business at the University of Chicago.

“I am thrilled that Monte Tarbox will bring a proven track record of delivering results for pensioners to this role,” Levine said in the announcement. “At this pivotal moment of economic uncertainty, I am committed to ensuring strong and steady investment leadership so that retirees can feel confident knowing their assets are being managed prudently and with care.”