Lisa Needle, acting chief investment officer of the San Diego County Employees’ Retirement Association, is leaving the $7.7 billion system on May 13 to join one of the association’s consultants, Albourne Partners, confirmed Michelle Butler, the system’s senior communications officer.
Ms. Needle, who is assistant CIO, has been acting chief investment officer since David Deutsch resigned in March 2009.
Ms. Needle’s work for Albourne will be for other clients, not for SDCERA, according to a statement from Douglas Rose, board chairman.
The association is in the midst of reorganizing its investment staff. A decision on a replacement for Ms. Needle is pending the board’s ultimate decision on the reorganization, including the duties and division of responsibilities between staff and its external portfolio strategist, Salient Partners.