Theresa Whitmarsh was named acting executive director of the $67.6 billion Washington State Investment Board, Olympia, effective Feb. 28.
She will replace Joe Dear, who will take over March 1 as CIO at the $171.3 billion California Public Employees’ Retirement System, Sacramento.
The appointment of Ms. Whitmarsh, chief operating officer at the board, was announced Thursday in a news release.
The board also decided to appoint an ad hoc committee to recommend a process for selecting a permanent executive director, the release said. No timetable for the search has been set, and a search firm has not been selected, spokeswoman Liz Mendizabal wrote in an e-mail response to questions.
Separately, the board rehired SSgA to run a $1.4 billion passive international equity portfolio, Ms. Mendizabal wrote. SSgA’s contract expires March 31. The RFP was issued in October.
The board also approved committing $250 million to Corporate Properties of the Americas, a real estate manager, and up to $100 million to the Advent Latin American Private Equity Fund V, Ms. Mendizabal wrote.
