John Bauman today was named executive director of the $24 billion Illinois Teachers Retirement System, Springfield, where he had been COO. None of the outside finalists will be interviewed tomorrow by the board as planned. His salary will be $139,000.
Additionally, the system settled its lawsuit with Ark Asset Management. The manager had been accused of selling $579 million in equities the same day the system notified Ark that it was being terminated, said Kim Pollitt, acting CIO. Terms of the settlement were not provided.