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Pension Funds

Kern County Employees chooses new CIO

Daryn Miller was named chief investment officer of the $4 billion Kern County Employees' Retirement Association, Bakersfield, Calif., said Dominic Brown, executive director, in an email.

Effective April 23, Mr. Miller will replace Peter Tirp, who resigned in August 2017, Mr. Brown said. Since August, general investment consultant Verus Advisory and private markets consultant Albourne America have been assisting with investment decisions. Mr. Tirp was the pension fund's sole investment staff.

Mr. Miller is currently senior investment officer of the $3 billion San Jose (Calif.) Police & Fire Department Retirement Plan and the $2 billion San Jose Federated City Employees' Retirement System. Until earlier this year he also had been serving as interim CIO of those pension funds following the May 2017 departure of CIO Arn C. Andrews to become assistant town manager of Los Gatos, Calif.

The San Jose funds hired Prabhu Palani as CIO earlier this year following a nationwide search. Mr. Palani said Mr. Miller's position will be filled, and whether there will be an external and/or internal search for candidates will be determined in the coming weeks.

Mr. Miller could not be immediately reached to provide further information.