John D. Skjervem was named chief investment officer of the $43 billion Utah State Retirement Systems, Salt Lake City.
Mr. Skjervem will join the pension fund Nov. 8, replacing Bruce H. Cundick, who is retiring, according to a news release Thursday.
Mr. Skjervem was previously CEO of investment consultant Alan Biller and Associates. He joined the firm in April 2020, succeeding founder, principal and chairman Alan Biller in that role. Simon Lim, Alan Biller and Associates’ managing senior consultant and chief compliance officer, could not be immediately reached for further information. Mr. Biller is listed on the firm’s website as CEO.
Before joining Alan Biller and Associates, Mr. Skjervem had been director of the investment division and chief investment officer of the Oregon State Treasury, where he led the Oregon Investment Council, Tigard, which oversees the investments of the $90 billion Oregon Public Employees Retirement Fund, Salem.
Mr. Cundick has been CIO of the Utah State Retirement Systems since 2003, when he ascended from assistant CIO to replace Richard Cherry. Spokesman Brian Holland said Mr. Cundick’s departure date has yet to be determined.