Hershel Harper Jr. will resign as chief investment officer of the South Carolina Retirement System Investment Commission on Sept. 30.
Geoffrey Berg, an internal managing director and head of public markets, was named interim CIO by commissioners at a meeting on Thursday, said Danny Varat, a commission spokesman, in an e-mail.
Mr. Harper announced his impending departure at the meeting, according to a webcast. He did not say what his plans are, but noted he will be evaluating opportunities. Mr. Harper could not be reached for comment.
Mr. Harper has been with the commission for more than seven years. He joined in June 2008 as director of alternatives, became deputy chief investment officer six months later, was named interim CIO in January 2012 and got the job permanently in July 2012, Mr. Varat said.
The RSIC oversees investment for the separate administrative agency South Carolina Public Employee Benefit Authority, which oversees the $29.2 billion South Carolina Retirement SystemsColumbia.
Michael Hitchcock, RSIC executive director, thanked Mr. Harper for his service during the meeting, and in a written statement said: “He has built a fantastic investment team that has made significant strides. … (He) has been asked to stay on for a period of time in the role of senior adviser as we begin the search for a permanent replacement.”
