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Illinois SURS names CIO

Douglas C. Wesley was named chief investment officer of the Illinois State Universities Retirement System, which oversees $18.3 billion in defined benefit and defined contribution assets combined, said a news release from the Champaign-based retirement system.

Mr. Wesley had been serving as interim CIO since the retirement of Daniel L. Allen in August.

Mr. Wesley was previously SURS’ deputy CIO. He has been with the retirement system for 19 years.

Steps will immediately be taken to identify a replacement for Mr. Wesley as deputy CIO, according to the release. A spokeswoman could not immediately be reached for additional information.

Executive search firm Heidrick & Struggles International assisted with the CIO search.