Tennessee system hires private equity chief

Lamar Villere was named director of the new private equity investment program at the $25 billion Tennessee Consolidated Retirement System, Nashville, effective in mid-February, confirmed CIO Michael Brakebill.

The position is new. Mr. Villere will be in charge of implementing a 3% target private equity allocation that was authorized last June.

Mr. Villere is senior alternative investment officer at the $29.9 billion Illinois Teachers' Retirement System, Springfield. Spokeswoman Eva Goltermann said the system will launch a formal search to replace Mr. Villere as soon as possible.

“Lamar has served TRS' private equity program well, and we appreciate all the hard work he has performed for our system,” Stan Rupnik, Illinois Teachers CIO, said in a news release. “TRS is confident that Lamar's knowledge and expertise of the asset class will greatly benefit the Tennessee Consolidated Retirement System as it builds its private equity program.”

Anne Simpson was named senior portfolio manager for corporate governance at CalPERS, a new position.

She will report to Eric Baggesen, senior investment officer for global equity at the $174.9 billion California Public Employees' Retirement System, Sacramento. Her start date has not been determined, according to a CalPERS news release.

Ms. Simpson will oversee CalPERS' Focus List program, which involves monitoring portfolio companies' performance related to finance, corporate governance practices and strategic issues, and will work on refining investment structures and the capital allocation process used to construct the fund's $98.6 billion global equity portfolio.

Ms. Simpson is executive director at the International Corporate Governance Network, which represents institutional and individual investors holding global assets currently estimated at $15 trillion, and other organizations involved in corporate governance issues, and was a Slater Fellow at Wellesley College, Wellesley, Mass., and a senior faculty fellow at Yale School of Management, New Haven, Conn.

The Louisiana Teachers' Retirement System is searching for a CIO to replace Bob Leggett, who will leave the $11 billion system on April 30.

Mr. Leggett said in an interview he plans to take some time off and will then “pursue other interests.”

The job posting is available here. Executive search firm EFL Associates is assisting.

Ohio Highway Patrol Retirement System, Columbus, is searching for an executive director-CIO to replace Richard Curtis, who is retiring at the end of the year.

The executive director-CIO is responsible for day-to-day operations of the plan, including oversight of portfolio investments, member relations and health care administration. The salary range is $95,000 to $115,000 depending on experience.

The search is being conducted in-house; selection is expected Sept. 1. Interested candidates can apply with the $576 million pension fund at www.ohprs.org.

El Paso County Pension System, Colorado Springs, Colo., has hired EFL Associates to assist with a search for a plan administrator to replace Dave Klemmer, who is retiring.

The plan administrator serves as the plan's chief operating officer and reports to a five-member board.

Mr. Klemmer in October announced plans to retire by Dec. 31, 2008, but said he would remain with the $200 million system until a replacement is found. It is uncertain when the system will make a hiring decision, he said in an interview.

Resumes can be sent to Mary Hobson, EFL Associates executive vice president and managing director, at [email protected] For more information, contact Ms. Hobson at 303-779-1724.

Robert P. Browne was named CIO at Northern Trust Corp., confirmed spokeswoman Cathryn Raia. He replaces Orie Dudley, who retired on Jan. 30, Ms. Raia said.

Mr. Browne will report to Stephen N. Potter, president of Northern Trust Global Investments.

Mr. Browne was CIO for fixed income and proprietary investments at ING Investment Management. Christine Hurtsellers, CIO, U.S. fixed income, will replace him, said Tracey Gordon, ING spokeswoman.

Barry McInerney was named president and CEO of Harris Investment Management, effective Feb. 9, according to Harris spokesman Chris Nardella.

He will replace William Leszinske, who will retire Feb. 27 but stay on as a director on the Harris board.

Mr. McInerney will report to Harold Hillier, chairman of Harris Investment Management and senior vice president and head of BMO Asset Management, a subsidiary of Bank of Montreal.

Mr. McInerney is managing director, institutional investment strategy and services, at Russell Investments. His duties will be assumed by Mark Hansen, head of institutional business for the Americas, according to a Russell spokeswoman.

Prior to joining Russell in 2006, he spent 19 years with Mercer, serving in a number of senior leadership positions including president of Mercer Global Investments.