Desmond Mac Intyre resigned as CIO of the $67.5 billion New York City Retirement Systems after just one month on the job, as reported in todays P&I People. Sources say he left because he couldnt get complete control of the Bureau of Asset Management; Mr. Mac Intyre declined to comment.
Jeff Simmons, spokesman for New York City Comptroller William Thompson, said Mr. Mac Intyre quit because he couldnt get a residency waiver, which would have allowed him to live in Connecticut. Sources said the waiver was an issue, but the main reason Mr. Mac Intyre quit was because he didnt realize how big a role politics played in the operation of the city funds.
Mr. Simmons said Mr. Mac Intyre will be replaced. Adam Blumenthal, first deputy comptroller, is handling the job in the interim.