Rich Robben, executive director, office of investments, and Andy Kiehl, deputy executive director, office of investments, are leaving Kentucky Retirement Systems, Frankfort, effective Sept. 30.
The $18.7 billion pension fund announced the imminent departure of its two top investment management executives in a news release Friday. KRS will initiate a nationwide search to fill both positions.
Mr. Robben has led KRS’ investment office since April 2019. His ascension to the position took place over two years after he rook on the role on an interim basis after the departure of previous investment head David Peden in January 2017. Mr. Kiehl also took on his current role, a new position for the retirement systems, in April 2019 after previously serving as director of investments for the real estate and real return asset classes.
The news release did not provide further information on the reasons for their departures. Existing staff will take on both of their duties while the board undertakes the search for their replacements, the news release said.
David Eager, executive director, said in an email the retirement systems hope to have replacements in place before the end of the year.
A separate news release from investment consulting firm AndCo Consulting on Sept. 28 announced Messrs. Robben and Kiehl will be joining that firm as field consultants Oct. 5.