PennSERS selects Korn/Ferry to conduct search for new CIO

Pennsylvania State Employees' Retirement System, Harrisburg, hired executive search firm Korn/Ferry International to conduct a search for a new chief investment officer for the $27 billion pension fund.

PennSERS spokeswoman Heather Tyler confirmed the search is being conducted to help find a replacement for Anthony S. Clark, who retired Dec. 31 amid allegations of withholding information on a deal involving one of the pension fund's money managers and conducting personal business from his state office.

Ms. Tyler did not know who the other finalists were by press time.

PennSERS issued the RFP in May. Thomas F. Brier has been serving as acting CIO since March.