Monte Tarbox was named chief investment officer of the IAM National Pension Fund, Washington.
He will replace Mary Cusick, who will retire early next year.
The $8 billion fund's investment program and funding are in good shape, Mr. Tarbox said in a telephone interview, so “my priority is to think more carefully about the opportunities of managing risk and reducing volatility without sacrificing return. I think we're headed into a new era of risk management.”
Mr. Tarbox was client services director for Industry Funds Management, a global investment firm owned by Australian pension funds. Regarding a replacement, IFM is looking for someone with expertise in North American institutional markets to add to their senior business development team in New York, executive director Brian Clarke said in an interview.