Dan Villa was named executive director of the Montana Board of Investments, Helena, said Geri Burton, deputy director, in an email.
Mr. Villa will start Oct. 1, replacing David Ewer, who announced in April he would be retiring Sept. 28.
Mr. Villa is currently the state of Montana's budget director under Gov. Stephen Clark Bullock.
The board oversees about $11.3 billion in assets for nine state pension funds.