Illinois State Universities Retirement System, Champaign, hired Heidrick & Struggles International to assist in the search for an executive director, whose duties include overseeing $16.5 billion in defined benefit and $1.6 billion in 401(a) defined contribution assets.
W. Bryan Lewis, who joined SURS in April 2015, plans to leave June 30 to become chief investment officer of the $25 billon Pennsylvania State Employees’ Retirement System, Harrisburg.
“Upon completion of a contract, SURS will work with HSII to determine the position specifications, advertising and timeline development,” said a SURS news release Friday. The SURS board “expects to have final candidates for the position within 120 days after entering into a contract with the firm.”
SURS is also looking for a new chief investment officer, the news release said. “At the recommendation of HSII, which is also conducting the CIO search, the selection of the CIO will be put on hold pending the appointment of the new executive director.”
SURS announced in March that CIO Daniel L. Allen planned to retire later this year. SURS has not disclosed a date.