The Federal Retirement Thrift Investment Board, Washington, with approximately $100 billion in assets, hired the executive search firm Heidrick & Struggles to search for an executive director to replace James B. Petrick. Mr. Petrick is acting executive director; he replaced Roger W. Mehle, who resigned in November to return to private practice as a lawyer. Mr. Petrick will return to his job as director of the office of benefits and investments after the hiring.
The application deadline is March 31. Evelyn Smrz is handling the search from Heidrick's McLean, Va., office.
The duties of the job, which pays $142,500, include investing and managing the fund's assets in accordance with the board's policies, purchasing annuity contracts and administering the thrift savings plan. Candidates should have extensive senior management experience with a large public or private retirement system, at least a bachelor's degree, experience in working with boards and committees and appearing before legislative and/or other oversight organizations, an understanding of investments and pension plan issues and administering retirement plans.