David T. Veal was named chief investment officer of the $2.1 billion Austin (Texas) City Employees' Retirement System, said Christopher D. Hanson, executive director, in an e-mail.
Mr. Veal, who will start April 18, will replace Kirk Stebbins, who became chief investment officer of the $12.7 billion Oklahoma Teachers' Retirement System, Oklahoma City, in October.
CIO responsibilities were filled by existing staff and investment consultant Summit Strategies Group in the interim.
Most recently, Mr. Veal was managing director and CIO at EF Capital Management, Mr. Veal said. Officials at EF Capital Management declined to comment.
Before that, Mr. Veal was director of strategic partnerships and research at the $126.6 billion Texas Teacher Retirement System, Austin, and chief global strategist and portfolio manager for the $24.1 billion Texas Employees Retirement System, Austin.
