Milwaukee City pension fund CIO dies

Tom Rick, chief investment officer of the $4.6 billion Milwaukee City Employes' Retirement System, died Monday.

Mr. Rick, 51, died in a Milwaukee hospital, where he was admitted Saturday after collapsing at his daughter's dance recital at the University of Wisconsin, Milwaukee, said Bernard J. “Jerry” Allen, executive director.

Mr. Rick was revived and expected to undergo tests at the hospital Monday, Mr. Allen said. Mr. Allen said he spoke Sunday with Mr. Rick, who said he was doing fine.

Mr. Allen said he went to lunch Friday with Mr. Rick, who said he had a normal workday.

“We will miss him,” Mr. Allen said. “Those are some big shoes to fill.”

In the interim, Alderman Michael Murphy, longtime chairman of the pension fund's investment committee, the pension fund's “capable staff” and Callan Associates, the pension fund's investment consultant, will handle Mr. Rick's duties, Mr. Allen said.

“Anytime you lose your CIO, your long-term strategy will be affected,” Mr. Allen said. “But we'll be OK in the short run. Our investment continuity will be all right.”

Mr. Rick joined the pension fund 12 years ago as an investment officer and later was promoted to CIO, Mr. Allen said.

Mr. Rick was a U.S. Navy pilot who flew F-14s off the USS Enterprise, an aircraft carrier. He graduated at top in his class at Miramar Naval Air Base.

“He was the real top gun,” Mr. Allen said.