Machinists pension fund hunts for CIO

International Association of Machinists National Pension Fund, Washington, hired executive search firm Heidrick & Struggles to conduct the search for its new chief investment officer, said Steve Sleigh, director of the $9.5 billion pension fund.

Former CIO Monte Tarbox left in January to become executive director of investments for the $14.7 billion National Electrical Benefit Fund, Washington.

Renee Neri, a principal in Heidrick & Struggles' New York office, said in an interview that “the most important traits (the IAM pension fund is) looking for are leadership and experience with multiasset-class portfolios.” She added the pension fund “has a very sophisticated investment strategy with a meaningful exposure to private capital.”