Susie Ardeshir will join the $3 billion Arlington County (Va.) Employees' Retirement System as its next executive director and CIO, effective July 6, according to a news release.
Ms. Ardeshir will be the first woman to hold the position. She will replace Daniel E. Zito, who is retiring after 13 years with the system. Mr. Zito joined the retirement system in January 2008 and became CIO in October 2010. In April 2020, he announced his plan to retire within about a year.
"Susie's depth of experience and passion for investing makes her an ideal choice to lead the ACERS team as it fulfills its commitments to members," Jonathan C. Kinney, president of ACERS' board of trustees, said in the release.
Ms. Ardeshir is investment director of asset allocation investment strategy in the University of California Board of Regents' office of the CIO. The UC's board oversaw $130.4 billion across defined benefit and contribution, endowment, working capital and captive insurance products as of June 30.
The UC Board of Regents' office of the CIO declined to comment on whether it has appointed an investment executive to replace Ms. Ardeshir, Stett Holbrook, spokesman for the UC office of the president, said in an email.