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CIO at New Mexico PERA stepping down


CIO at New Mexico PERA stepping down
Print
Dominic Garcia, CIO of the $16.4 billion New Mexico Public Employees Retirement Association, Santa Fe, will be leaving, effective June 4, according to a news release.
Kristin Varela, deputy CIO, who has served under Mr. Garcia since 2017, will lead the investments team in the interim until a replacement is found.
Thank you to Dominic for all his hard work. Our members and staff have benefited greatly from his contributions. PERA wishes Dominic nothing but the best and thanks him for his service, said Greg Trujillo, interim executive director, in the news release.
Mr. Garcia became CIO of New Mexico PERA in 2018 from State of Wisconsin Investment Board, Madison, where he was a senior alpha manager. The board manages $143.9 billion in assets, including the $120.2 billion Wisconsin Retirement System. ....

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City Hall: Pension Costs Will Cause Huge Worker Layoffs


One-sixth of city workforce projected for cuts by 2026, with added cuts in future years.
By
Jeramey Jannene - Apr 28th, 2021 01:16 pm
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Milwaukee City Hall. Photo by Jeramey Jannene.
City of Milwaukee officials continue to stare down a 2023 fiscal cliff.
As that day of reckoning draws closer, the actual amount of a required pension fund contribution is coming into focus. The city will need to come up with an additional $76.6 million annually, a 105% increase, starting in 2023. But the city doesn’t have the ability to raise taxes to plug that gap.
The city must increase its annual contribution to offset declining pension fund returns and increasing costs. The size of the increase is expected to affect every city department, potentially causing a cascading series of layoffs and service reductions or eliminations. ....

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Wisconsin Investment Board names new executive director and CIO


Wisconsin Investment Board names new executive director and CIO
Wisconsin Investment Board names new executive director and CIO
Edwin Denson
Edwin Denson was named executive director and chief investment officer of the State of Wisconsin Investment Board, Madison, spokesman Chris Preisler said in an email.
He replaces
David Villa, who died Feb. 13. Mr. Denson was previously SWIB s managing director, asset and risk allocation.
Mr. Preisler said Mr. Denson will determine whether to seek a replacement for his previous position as he reviews the structure of the board’s investment division.
Before joining the board in 2018, Mr. Denson was managing director and head of strategic tilting at the C$475.7 billion ($380.2 billion) Canada Pension Plan Investment Board, Toronto. ....

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SWIB Names Edwin Denson as CIO, Replacing the Late David Villa


The economist has been overseeing risk management and investing strategies at the Wisconsin organization.
Edwin Denson
Economist Edwin Denson has been named as the next executive director and chief investment officer for the State of Wisconsin Investment Board (SWIB). Denson, who has overseen risk management and investment strategies at the fund, succeeds David Villa, who died in February.
“SWIB is fortunate to have someone with Edwin’s talent and experience, who is ready to take on this leadership role,” said David Stein, chair of the independent SWIB Board of Trustees, in a statement. “He combines a deep understanding of SWIB’s innovative investment strategy with a wealth of expertise in both public and private sector asset management.” ....

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