Richard Cherry is leaving as chief investment officer for the $11.5 billion Utah Retirement System, Salt Lake City, following an investigation into insider trading activities, confirmed John Schaff, deputy director for the legislative auditor general's office. He wouldn't say whether Mr. Cherry quit or was ousted, but a story in the Salt Lake Tribune said he was terminated.
Bruce Cundick, assistant chief investment officer, will take over as temporary CIO, confirmed Mr. Schaff.
