The United Auto Workers (UAW) Retiree Medical Benefits Trust has appointed Hershel Harper as its new CIO, filling the role Ken Frier left a year ago.
Harper is a former CIO of the $29.2 billion South Carolina Retirement System Investment Commission, and has also held positions at Banc of America Capital Management, Columbia Management, and Evergreen Investments.
“Hershel Harper brings a depth of experience in the investment management industry and expertise in alternative investments and portfolio diversification,” said Adam Blumenthal, chair of the trust’s investment committee, in a press release. “His track record of building strategic partnerships with investment managers and managing risk will serve the trust well.”
Blumenthal added his thanks to Avtar Vasu, who acted as interim CIO for the $60 billion trust since Ken Frier departed in September 2014 after just two years in the position.
“I am confident that as CIO [Harper] will be a strong steward of the trust’s assets and provide a steady hand at the helm,” said Dennis Williams, president of the UAW.
In his new role, Harper will report to Blumenthal and Executive Director Fran Parker.