It’s official: Britt Harris will replace Bruce Zimmerman as UTIMCO’s new President, CEO and CIO.
Rumblings within the investment industry broke the rumor late last night, but Britt Harris confirmed it with CIO Friday morning. UTIMCO board members voted in favor of welcoming Harris to the fold in the afternoon. Sources at UTIMCO and the University of Texas System said he is expected to start August 1st.
“Serving TRS has been one of the great honors of my professional life. Our teachers and educators are such important people, and it has been a privilege to serve them,” Harris said in the public pension’s press release. “I will greatly miss everyone at TRS, but the Fund’s organization is very strong and my confidence in TRS staff could not be higher.”
Prior to $40 billion university endowment, Harris was CIO at the $140 billion Teachers’ Retirement System of Texas (TRS).
TRS Executive director Brian Guthrie announced that, effective immediately, TRS Deputy Chief Investment Officer Jerry Albright will serve as interim CIO. The TRS board will consider plans for replacing Harris at their July 13 board meeting. That said, TRS declined to comment on who Harris’ potential successor could be.
UTIMCO will deliver an employment letter to Harris regarding the terms and conditions of the agreement. Mark Warner will serve as interim CIO until Harris begins his tenure.