Sylvester McClearn has been promoted to director of the New York State Common Retirement Fund's emerging managers program. He had been interim director since February 2023.
"Sylvester McClearn has a long and proven track record in the financial industry and as a member of our team," said New York state Comptroller Thomas P. DiNapoli, in a Feb.7 news release. DiNapoli is the sole trustee of the $246.3 billion pension fund, Albany, which includes $10.2 billion in emerging manager program assets.
"Mr. McClearn has the experience and the skill set needed to continue attracting innovative investment perspectives that earn solid returns, while addressing the historical inequities in the finance sector," DiNapoli added.
Mr. McClearn became interim director when Anyori Hernandez left to become the president and CEO of the nonprofit New America Alliance. At the time, McClearn also was senior investment officer. Those duties have been apportioned among him and other pension fund officials, a spokeswoman for DiNapoli wrote in an email.