Scott C. Evans was named executive vice president and manager of CREF Investments, replacing Virgil Cumming, who left to pursue other interests. Mr. Evans had managed the CREF Growth Account; Jeff Seigel will take over from him. Mr. Evans will oversee 100 investment staff, managing $112 billion for 403(b) plans.
Farouki Majeed, CIO for the $1.5 billion Minneapolis Employees' Retirement Fund, accepted a similar position with the $3.6 billion Orange County Employees' Retirement System, Santa Ana, Calif., effective Oct. 6. The Orange County position is new. The search for his successor in Minneapolis is expected to start immediately.