John Johnson, chief investment officer of the $6.5 billion Wyoming Retirement System, Cheyenne, has been placed on administrative review leave after pleading guilty to SEC charges of insider trading from before his tenure there, confirmed Executive Director Thomas Williams.
Mr. Johnson pleaded guilty March 18 to charges by the Securities and Exchange Commission for insider trading in 2008 that involved the acquisition of Foundry Networks by Brocade Communications.
“We have an investment team comprised of four members including myself, and under the investment policy statement, the CIO has to solicit approval from the executive director,” Mr. Williams said in a telephone interview. “Mr. Johnson won’t be playing a role in the process, but the process will continue.”
Mr. Johnson joined the pension fund in November 2010 as senior investment officer and was named interim CIO in September 2011; he took the position permanently later that year. He could not be reached by press time.