Peter Gilbert, CIO of the Pennsylvania State Employees Retirement System, is leaving the $32 billion system to become the first CIO for the $1 billion Lehigh University endowment, Bethlehem, Pa. Mr. Gilbert will start July 30, confirmed Sarah Cooke, university spokeswoman. The endowment has been run by a volunteer committee, she added. Executive recruiting firm Russell Reynolds led the search.
At PennSERS, John C. Winchester, director of public markets, will take over as interim CIO, said spokesman Robert Gentzel. Mr. Gilberts departure from PennSERS comes roughly three weeks after Executive Director Eric Henry announced he would leave to become executive director of the $14 billion Texas Municipal Retirement System, Austin. The PennSERS board will discuss plans to fill both posts at its June 6 meeting, said Mr. Gentzel.