Shoaib Khan has been promoted to director of the division of investment and CIO of the New Jersey Pension Fund, Trenton, state Treasurer Elizabeth Maher Muoio announced Friday.
Mr. Khan had been acting director of the division, which handles investments for the $94.7 billion pension fund since June 2021, following the departure of former CIO Corey Amon. Mr. Khan joined the division of investment as deputy director in January 2021.
“Shoaib has been instrumental in managing the overall operations of our division of investment,” Ms. Muoio said in a news release Friday. “His experience as deputy director and acting director will serve him well as he leads the division in a permanent capacity.”
Deepak Raj, chairman of the State Investment Council, in the news release praised Mr. Khan for his “steady hand during our pandemic recovery.” The council governs investment policies for the division of investment. Mr. Raj said Mr. Khan was the “clear choice in our search for a director.”
The council makes recommendations to the state treasurer for choosing a CIO. A Treasury Department spokeswoman did not provide information on how many candidates were considered by the council or the treasurer.
Prior to joining the division of investment, Mr. Khan was a senior portfolio manager at the $251.7 billion Florida State Board of Administration, Tallahassee.
