David Villa, chief investment officer of the State of Wisconsin Investment Board, Madison, is adding the responsibilities of executive director, said Vicki Hearing, SWIB spokeswoman.
Mr. Villa replaces Rick Smirl, who resigned in July to join Russell Investments as chief operating officer. Rochelle Klaskin, the board's chief legal counsel, has been serving as interim executive director since Mr. Smirl's departure and will take on the new position of deputy executive director/chief administrative officer. Her previous position is now open.
Mr. Villa has been CIO of the board since 2006. A SWIB news release said "combining the roles of executive director and CIO would best fit SWIB's increasingly sophisticated investment organization and the infrastructure that supports it."
The board oversees a total of $117 billion in assets, including the $100.3 billion Wisconsin Retirement System.
