Hershel Harper was named chief investment officer at the South Carolina Retirement System Investment Commission, Columbia, confirmed Adam Jordan, interim CEO.
Mr. Harper was deputy CIO for the $24.5 billion investment commission and had been interim CIO since the resignation of Robert L. Borden on Dec. 2. He also has worked in various positions with State Street Global Advisors, Bank of America and Evergreen Investments.
Mr. Borden joined money manager FTA Partners in February as managing partner and CIO.“Hershel has served the commission for the past several years and has done an outstanding job leading our staff, helping turn the organization and the state of South Carolina into a leader in the public pension world,” said Reynolds Williams, chairman of the board, in a news release Thursday.
Separately, the board deadlocked in a 3-3 vote Thursday calling for a special election among trustees to remove Mr. Williams as chairman, said Allen Gillespie, board commissioner. He took over July 1 from Mr. Gillespie, whose two-year term ended June 30.
Mr. Williams is under investigation by the State Law Enforcement Division and the State Ethics Commission in connection with a $30 million commitment to American Timberlands, with which Mr. Williams' law firm works.
Mr. Williams did not return a telephone call for comment by press time.
