Connecticut Retirement Plans hires new CIO

Sean Crawford was named chief investment officer of the $34 billion Connecticut Retirement Plans & Trust Funds, Hartford, said a news release from state Treasurer Denise Nappier's office.

Effective May 14, he replaces Laurie Martin, deputy CIO, who took on the role on an interim basis in February 2017 after Deborah Spalding resigned as CIO.

Mr. Crawford will oversee the treasury office's pension funds management division, where he will be responsible for helping develop and implement its investment policy, conducting due diligence on and evaluating fund performance, assisting in the recommendation of external investment managers, consultants and other service providers, and directing the day-to-day administration of the investment program.

Executive search firm Korn Ferry assisted with the search.

Mr. Crawford was previously CIO of the New York Metropolitan Transportation Authority, overseeing $15 billion in defined benefit plan, deferred compensation plan, captive insurance company and other post-employment benefits plan assets. The MTA is currently searching for a replacement, said spokesman Aaron Donovan.