Steve Moise, New Mexico state investment officer, who has led the state's investment council since 2010, will retire Oct. 1, according to a news release.
During Mr. Moise's tenure, the endowments overseen by the New Mexico State Investment Council, Santa Fe, have more than tripled to $44.6 billion.
At Thursday's meeting, council voted to hire executive search firm Hudepohl & Associates to conduct a nationwide search for Mr. Moise's replacement.
Robert "Vince" Smith will continue as the council's chief investment officer, the news release added.
"When the council appointed me in 2010, the SIC was under a dark cloud, embroiled in a pay-to-play scandal," Mr. Moise said in the news release. The council's legal efforts following that scandal netted the state about $60 million in recoveries from bad actors, "while sending a clear message to political operators that future attempts to hijack New Mexico's investment process would be both painful and costly," the release said.
"I am in good health. I'm not running for office, and I'm not going to slow down," Mr. Moise said.
