Paul Ballard, CEO and chief investment officer of the $70 billion Texas Treasury Safekeeping Trust, Austin, will retire effective Sept. 30, said Chris Bryan, spokesman for Texas Comptroller Glenn Hegar.
Mr. Ballard has been with the trust since Feb. 2003.
Mike Reissig, senior adviser to Mr. Hegar since leaving his post as deputy comptroller and chief clerk in January, will serve as acting CEO beginning Oct. 1.
Ruchit Shah, head of external investments, will serve as acting CIO.
Mr. Bryan said details on permanent replacements have yet to be determined. Mssrs. Reissig and Shah will discuss filling the head of external investments position after Oct. 1.
The trust manages the state's treasury pool and other investment pools including 11 endowment funds with over $4 billion in assets.
