Kristin Varela was named chief investment officer of the Hawaii Employees' Retirement System, Honolulu, effective Jan. 17, the $22 billion pension fund announced in a news release Tuesday.
Ms. Varela was most recently deputy CIO and interim CIO at the $17 billion New Mexico Public Employees Retirement Association, Santa Fe.
She replaces Elizabeth Burton, who departed the Hawaii pension fund June 30 and later joined Goldman Sachs Asset Management as client investment strategist in client solutions and capital markets. Howard Hodel, Hawaii's deputy CIO, has been serving as acting CIO. He plans to retire later in 2023, the news release said.
"Public funds always benefit from hiring the best talent available," Executive Director Thomas Williams said in the release. "While a specific fund's staffing needs may evolve over time, a constant is outstanding intellect, character, commitment, competence, and vision. Kristin checks all these boxes and more."
Kumabe HR conducted the search.