Dominic Garcia, CIO of the $16.4 billion New Mexico Public Employees Retirement Association, Santa Fe, will be leaving, effective June 4, according to a news release.
Kristin Varela, deputy CIO, who has served under Mr. Garcia since 2017, will lead the investments team in the interim until a replacement is found.
"Thank you to Dominic for all his hard work. Our members and staff have benefited greatly from his contributions. PERA wishes Dominic nothing but the best and thanks him for his service," said Greg Trujillo, interim executive director, in the news release.
Mr. Garcia became CIO of New Mexico PERA in 2018 from State of Wisconsin Investment Board, Madison, where he was a senior alpha manager. The board manages $143.9 billion in assets, including the $120.2 billion Wisconsin Retirement System.
Earlier in his career, he had served as deputy CIO of New Mexico PERA.
"It has been a pleasure and honor to serve PERA for 8 years, and the last 4 years as CIO. Together, we achieved so much to ensure PERA has a sustainable and prosperous 21st century," Mr. Garcia said in the release.
Neither Messrs. Trujillo nor Garcia could be immediately reached for additional comment.
