Officials of the $11.5 billion Utah State Retirement System, Salt Lake City, will decide by May 2 whether to use an executive recruiting firm in their nationwide search for a chief investment officer, said Robert Newman, executive director.
CIO Richard Cherry's departure was announced earlier this month following an investigation into insider trading allegations. Mr. Newman wouldn't say whether Mr. Cherry was terminated, or resigned.
Bruce Cundick, assistant CIO, will take over as temporary CIO, confirmed John Schaff, deputy director for the legislative auditor general's office.
Separately, the Utah pension fund hired Ed Archer as compliance officer, a new position. He had been internal auditor.