Illinois State Universities Retirement System, Champaign, is searching for an executive search firm to assist its board in finding a new chief investment officer to succeed Douglas C. Wesley, who is retiring later this year.
The retirement system, which oversees $22.9 billion in defined benefit plan assets and $3.3 billion in defined contribution plan assets, issued an RFP on its website for a firm to assist the board in hiring a new CIO to start sometime in the fall of 2023, spokeswoman Beth A. Spencer said in an email.
Mr. Wesley, who announced his intention to retire later this year at SURS' Feb. 2 meeting, has been CIO since March 2017 when he succeeded retiring CIO Daniel L. Allen. Before that, Mr. Wesley had been deputy CIO for SURS since 2005.
The RFP is available on SURS' website. Proposals are due at 4:30 p.m. CDT on March 17. A selection is expected in April.