William E. Christopher, executive director of the $6.7 billion Indiana State Teachers Retirement Fund, Indianapolis, said he plans to retire at year's end. Also, the terms of two teachers' fund trustees expire in 2005, said Robert D. Newland, CIO. Indiana Gov.-elect Mitchell E. Daniels Jr. could initiate major leadership changes at the fund. The governor by statute names the teachers' fund executive director and also the trustees to both the teachers' fund and the $10.1 billion Indiana Public Employees Retirement Fund, Indianapolis, Messrs. Christopher and Newland said. Each fund has five trustees who serve staggered four-year terms. The Indiana PERF board has been searching since 2003 for a CIO, a process that observers said was placed on hold recently until after the election. Craig E. Hartzer, who was appointed in 2003 as Indiana PERF executive director, couldn't be reached for comment. The Indiana PERF executive director is appointed by its board with the approval of the governor. E. William Butler, Mr. Hartzer's predecessor, said Mr. Daniels "brings significant experience from both the corporate world and government world," noting that he was senior vice president of corporate strategy and policy at Eli Lilly &Co., Indianapolis, and director of the Office of Management and Budget during President Bush's first term. Mr. Daniels "has a clear understanding of the fiduciary overlay that covers (both state funds) and will bring appropriate resources to it."
Dave Cameron was named director of U.S. equity for Boston Co. Asset Management, parent Mellon Financial announced today. The position, which involves oversight of portfolio management, investment research and risk management, is new. Mr. Cameron will remain head of the firm's U.S. core and growth team, said Joseph F. Ailinger Jr., Mellon spokesman.
David Bailey was named CEO of the $1.5 billion San Mateo County Employees' Retirement Association, Redwood City, Calif., effective Jan. 3. He will replace Sid McCausland, who will stay on as a full-time consultant until the end of March, when he will retire. Mr. Bailey was deputy director of the $42 billion Oregon Public Employees Retirement Fund, Tigard. David Crossley, Oregon spokesman, said plan officials have not decided whether to fill the vacant post.