Paul Cummins was promoted to managing director of public equities at the $152.4 billion New York State Teachers' Retirement System, Albany, succeeding Frederick W. Herrmann, who retired.
In addition, Michael Federici was promoted to managing director of fixed income, succeeding Michael A. Wolfe Jr., who retired.
Both promotions were confirmed by Heidi Brennan, a spokeswoman for the pension system.
Mr. Cummins, who is in charge of the $82.4 billion public equities portfolio, assumed his new role in November, Ms. Brennan wrote in an email. He had been manager of quantitative strategies and has been a pension system employee since 2009. The pension system will select a successor as manager of quantitative strategies, Ms. Brennan wrote.
"He is responsible for the domestic, international, and global public equity allocations of the NYSTRS portfolio," Ms. Brennan wrote. "He oversees internal portfolio management, trade execution and the hiring and monitoring of external public equity managers."
Mr. Cummins' predecessor, Mr. Herrmann, held the managing director's job for 10 years.
Mr. Federici's promotion took effect this month as the top manager of the $29.5 billion fixed-income portfolio, Ms. Brennan wrote. His predecessor, Mr. Wolfe, a 24-year pension system employee, had been managing director of fixed income since 2008.
Mr. Federici, who joined the pension system in 2019, had been deputy managing director of fixed income and previously manager of fixed income. Aaron VanDerwiel, a member of the fixed-income staff, was promoted to manager of fixed income, Ms. Brennan wrote.