PERF CIO leaves to North Carolina
08 June 2010 Raleigh
Image: Shutterstock
State Treasurer Janet Cowell recently announced that Shawn Wischmeier will join the Department of State Treasurer as the new Chief Investment Officer for the $68 billion North Carolina Retirement Systems.
Wischmeier comes to North Carolina after serving as Chief Investment Officer for the Indiana Public Employees' Retirement Fund (PERF) since 2006 where he brought the plan from fourth to first quartile investment performance in less than four years and was recently recognized as Large Public Plan of the Year by Institutional Investor News' Money Management Letter. Prior to joining PERF, Wischmeier was with Eli Lilly and Company's Global Treasury group, where he progressed through varied roles, primarily focused on pension and benefit investments, corporate investments, and financial risk management.
Wischmeier has a Master of Business Administration degree from the Kellogg School of Management at Northwestern University where he majored in analytical finance, a Bachelor of Science in Chemical Engineering degree from Rose-Hulman Institute of Technology, and a Master of Engineering Management degree from the McCormick School of Engineering and Applied Sciences. The national search for the position was conducted by Korn/Ferry International led by Managing Director, Michael Kennedy.
"Mr. Wischmeier brings a great set of analytical and management skills to this Department," stated Cowell. "I look forward to working with him as he takes on the responsibilities of leading our expert investment team that works to protect the benefits for over 820,000 retirement system members."
In another comment John Medlin, Vice-chair of the Investment Advisory Committee stated "North Carolina is fortunate to have Mr. Wischmeier, With his experience and background, he will be a great asset in maintaining the long term stability of the pension fund for our state's public workers." The Department of State Treasurer's Chief Investment Officer is responsible for managing a staff of over 22 investment professionals and oversight of approximately $68 billion in assets for the North Carolina Retirement Systems.
The following are statements from Executive Director Steve Russo and Chief Investment Officer Shawn Wischmeier regarding Wischmeier's departure from the Indiana Public Employees' Retirement Fund (PERF). Russo is executive director of both PERF and the Indiana State Teachers' Retirement Fund (TRF). This announcement relates only to PERF.
Statement from Steve Russo
"Shawn has accomplished a great deal while at PERF and he will certainly be missed. Under his leadership, PERF's investment team achieved national recognition as it placed the fund's investment performance among the best public pension funds in the nation."
"While Shawn has done an excellent job, I'm pleased that David Cooper, PERF's deputy chief investment officer, has agreed to step into the role of PERF's CIO. David has been an integral part of PERF's investment team and I'm confident he'll continue the tradition of solid, prudent management on behalf of our members."
Statement from Shawn Wischmeier
"I have appreciated the opportunity to serve the members of Indiana PERF over the past several years. I look forward to joining Treasurer Cowell and her team in managing the assets of the North Carolina Retirement Systems."
Wischmeier comes to North Carolina after serving as Chief Investment Officer for the Indiana Public Employees' Retirement Fund (PERF) since 2006 where he brought the plan from fourth to first quartile investment performance in less than four years and was recently recognized as Large Public Plan of the Year by Institutional Investor News' Money Management Letter. Prior to joining PERF, Wischmeier was with Eli Lilly and Company's Global Treasury group, where he progressed through varied roles, primarily focused on pension and benefit investments, corporate investments, and financial risk management.
Wischmeier has a Master of Business Administration degree from the Kellogg School of Management at Northwestern University where he majored in analytical finance, a Bachelor of Science in Chemical Engineering degree from Rose-Hulman Institute of Technology, and a Master of Engineering Management degree from the McCormick School of Engineering and Applied Sciences. The national search for the position was conducted by Korn/Ferry International led by Managing Director, Michael Kennedy.
"Mr. Wischmeier brings a great set of analytical and management skills to this Department," stated Cowell. "I look forward to working with him as he takes on the responsibilities of leading our expert investment team that works to protect the benefits for over 820,000 retirement system members."
In another comment John Medlin, Vice-chair of the Investment Advisory Committee stated "North Carolina is fortunate to have Mr. Wischmeier, With his experience and background, he will be a great asset in maintaining the long term stability of the pension fund for our state's public workers." The Department of State Treasurer's Chief Investment Officer is responsible for managing a staff of over 22 investment professionals and oversight of approximately $68 billion in assets for the North Carolina Retirement Systems.
The following are statements from Executive Director Steve Russo and Chief Investment Officer Shawn Wischmeier regarding Wischmeier's departure from the Indiana Public Employees' Retirement Fund (PERF). Russo is executive director of both PERF and the Indiana State Teachers' Retirement Fund (TRF). This announcement relates only to PERF.
Statement from Steve Russo
"Shawn has accomplished a great deal while at PERF and he will certainly be missed. Under his leadership, PERF's investment team achieved national recognition as it placed the fund's investment performance among the best public pension funds in the nation."
"While Shawn has done an excellent job, I'm pleased that David Cooper, PERF's deputy chief investment officer, has agreed to step into the role of PERF's CIO. David has been an integral part of PERF's investment team and I'm confident he'll continue the tradition of solid, prudent management on behalf of our members."
Statement from Shawn Wischmeier
"I have appreciated the opportunity to serve the members of Indiana PERF over the past several years. I look forward to joining Treasurer Cowell and her team in managing the assets of the North Carolina Retirement Systems."
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