Johara Farhadieh, currently executive director and chief investment officer of the Illinois State Board of Investment, Chicago, will become CIO of Wespath Benefits and Investments in the summer of 2024 after the retirement of current CIO David Zellner, said Wespath spokeswoman Julie Capozzi.
Ms. Farhadieh will resign from ISBI effective Oct. 2 and join Wespath as its deputy CIO until Mr. Zellner's expected retirement, Ms. Capozzi said.
Ms. Farhadieh, who joined ISBI in 2007 as a portfolio officer, has held the dual role of executive director and CIO since 2018. She and officials there could not be immediately reached for further information.
In an ISBI news release Tuesday, Terrence Healy, chairman of the board, said: "The Board wants to express their deep appreciation for Johara's exceptional leadership and unwavering dedication to ISBI. They extend their heartfelt well-wishes for her future endeavors, acknowledging the immense impact she has made on the organization."
The $23.9 billion Illinois State Board of Investment, Chicago, oversees the investment management of the Illinois State Employees' Retirement System, Illinois Judges' Retirement System and Illinois General Assembly Retirement System.
Mr. Zellner has overseen the investment management of Wespath, previously known as the General Board of Pension of the United Methodist Church, since 1997. In a Wespath news release Tuesday, he said, "I am very excited that Johara will be joining Wespath. She has clearly demonstrated success in managing multi-asset portfolios supporting the investment of pension and defined contribution plan assets. In addition, her proven track record of promoting sustainable investment practices makes her an ideal fit for continuing alignment of Wespath's fund investments with the values of The United Methodist Church."
Wespath Benefits and Investments manages more than $24 billion in retirement plan assets for more than 130 United Methodist affiliated institutions.