Rex Kim is the new Oregon State Treasury's CIO, helping to invest a portfolio that includes the $79.1 billion Oregon Public Employees Retirement Fund, according to a news release Tuesday.
Mr. Kim, a former Oregon Investment Council member whose term ended in February, succeeds John Skjervem, who announced his resignation in February to join investment consultant Alan Biller and Associates. Mr. Skjervem was scheduled to leave the Oregon State Treasure on March 31.
“Rex is everything we are looking for in a CIO: smart, thoughtful, calm and an industry leader,” said Oregon State Treasurer Tobias Read, who also sits on the Oregon Investment Council. “His background as an Oregon Investment Council member provides him a unique experience and familiarity with our team and our investment beliefs, and he’ll bring welcome continuity to our investment approach.
Treasurer Tobias Read, who hired Mr. Kim, did not conduct a nationwide search, spokeswoman Rachel Wray noted in an email. Mr. Kim is a retirement consultant at Multnomah Group, an independent retirement plan consulting firm.
“Not long after we let OIC members know about John leaving, Rex expressed interest in the position, which seemed too good to be true,” Deputy Treasurer Michael Kaplan said. “After interviewing Rex, we knew we’d found the right person to lead the team and help further strengthen our investment program.”