DEFINED BENEFIT

Illinois State Universities names interim CIO

Douglas C. Wesley was named interim chief investment officer of Champaign-based Illinois State Universities Retirement System, which oversees $16.7 billion in defined benefit and $1.7 billion in 401(a) defined contribution assets, said a SURS news release.

Mr. Wesley, who was SURS’ deputy CIO, takes over in the interim for Daniel L. Allen, who is on family leave. In March, SURS announced Mr. Allen’s plans to retire later this year. The latest news release said Mr. Allen is scheduled to retire Aug. 1.

William E. Mabe, who was named interim executive director in May, said SURS hasn’t determined yet how the deputy CIO duties will be handled in the interim.

In May, SURS hired Heidrick & Struggles International to assist in the search for an executive director to replace W. Bryan Lewis, who joined the system in 2015 as executive director and successor to Mr. Mabe, who retired in 2014. Mr. Lewis was hired as CIO of the $26 billion Pennsylvania State Employees’ Retirement System, Harrisburg, in May.

SURS put on hold its search for a CIO until it completes its search for a new executive director.

Heidrick & Struggles is assisting in both searches.