Nancy Goerdel was named chief investment officer of the Texas Municipal Retirement System, Austin, the $16.7 billion system has announced.
Ms. Goerdel had been acting CIO since the August 2009 departure of Eric Henry, executive director and CIO. Mr. Henry is now CIO of the $45 billion UAW Retiree Medical Benefit Trust, Ann Arbor, Mich.
David Gavia was named executive director in March; Mr. Gavia appointed Ms. Goerdel as permanent CIO on June 18, said Bill Wallace, system spokesman.
Prior to her interim CIO post, Ms. Goerdel was director of public investments and asset allocation.
As the system's CIO, she will oversee an investment department of six employees who manage fixed-income, equity and real estate investments, according to a news release announcing her appointment.