Richard E. McElreath was named chairman of the Texas Pension Review Board, Austin, confirmed Paul Janssen Nicholson, executive director. Mr. McElreath, an investment adviser at Wachovia Securities in Amarillo, replaced Dallas investor Frederick E. Rowe Jr., who was recalled by Gov. Rick Perry.
Krista Piferrer, a spokeswoman for Mr. Perry, said Mr. Rowe “was sidestepping our office” and constituents like the $107.5 billion Texas Teacher Retirement System and the $24.6 billion Texas Employees Retirement System, both of Austin, in making public comments about pension plan funding and investment strategies. “The governor’s office needs a leader with open lines of communication with not only our office, but (with TRS and ERS) as well,” Ms. Piferrer said. Mr. Rowe will remain on the board.
