Pension Funds

New York State Common bolsters fixed-income team with 2 appointments

Jon Lieber was named director of fixed income at the $201.3 billion New York State Common Retirement Fund, Albany, said Matt Sweeney, a spokesman for Thomas P. DiNapoli, the state comptroller and sole trustee of the pension fund, in an email.

The pension fund's fixed-income investments are primarily managed internally.

Mr. Lieber, who started last month, replaced Navnoor Kang, who was terminated in February 2016.

Mr. Kang was charged with securities fraud in a grand jury indictment by the U.S. attorney's office in New York and in a Securities and Exchange Commission complaint in December 2016. In November, he pleaded guilty to conspiracy to commit securities fraud and conspiracy to commit honest services fraud. Mr. Kang's lawyer could not immediately be reached for comment.

Previously, Mr. Lieber worked at insurance agency XL Catlin.

Additionally, Gary Harper was named deputy director of fixed income at New York State Common, effective last month. It is a new position.

Previously, he was a senior investment officer for the pension fund. Mr. Harper's replacement has not yet been identified, Mr. Sweeney wrote.

The two are part of a team that manages $49.7 billion in fixed-income and short-term investments.