Monte Tarbox
On Tuesday, New York City Comptroller Mark Levine named Interim CIO Monte Tarbox as the new permanent CIO of the city’s Bureau of Asset Management, which oversees the investments of the city’s five pension funds.
Appointed in January on the interim basis, Tarbox filled the position after Steven Meier, the fund’s previous CIO, departed last fall. Levine previously told CIO he wanted to have a new CIO announced in the spring.
As CIO, Tarbox will oversee the investments of the Teachers’ Retirement System of the City of New York, the New York City Employees’ Retirement System, the New York City Police Pension Fund, the New York City Fire Pension Fund and the New York City Board of Education Retirement System, which collectively manage $316 billion in assets while each retaining its own trustees.
“They often say that a pension is a promise, and it is my honor to continue delivering on that promise with the talented staff of the Bureau of Asset Management and in partnership with our trustees,” Tarbox said in a statement. “I am grateful to the trust that Comptroller Levine has placed in me at this crucial moment and look forward to this next chapter for the city’s pension systems.”
Tarbox, an experienced union pension investment leader, previously was president of the AFL-CIO Investment Trust Corp.; served as executive director of investments for the National Electrical Benefit Fund, the second largest Taft-Hartley pension plan in the U.S.; and was CIO of the multiemployer International Association of Machinists and Aerospace Workers National Pension Fund.
In 2024, he was appointed to the advisory committee of the Pension Benefit Guarantee Corporation; served as a member of the investment committee of the Maryland State Retirement and Pension System; and was a trustee on the board of investments for the Montgomery County Public Schools Retirement System.
He earned a bachelor of arts degree from Carleton College in Minnesota and an MBA from the Booth School of Business at the University of Chicago.
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Tags: Monte Tarbox, New York City Bureau of Asset Management, New York City Comptroller’s Office