National Railroad Retirement Investment Trust, a new pension fund starting with $20 billion in assets, is searching for a chief investment officer, said John J. Salmon, the trusts counsel. Debra Brown and Susan Fowler, Russell Reynolds managing directors, are assisting. Ms. Brown said CIO candidates should have "experience managing a relatively large plan, experience across a wide range of asset classes, experience managing, monitoring and selecting investment managers.
Once the CIO is hired, the board will begin hiring other investment professionals.
The trust also hired Watson Wyatt Investment Consulting to conduct an asset-liability study and develop a long-term strategic asset allocation, said Mr. Salmon.