Allyson Tucker, chief investment officer of the Washington State Investment Board, Olympia, was named CEO effective Jan. 1, 2022.
She will replace Theresa Whitmarsh, who has been executive director of the board since 2009 and last month announced her intention to retire Dec. 31.
The board's management team will evaluate candidates for Ms. Tucker's position as CIO and plans to fill the role later this year, it announced in a news release Thursday emailed by spokeswoman Tish Day.
The news release said the board decided to change the executive director title to CEO for "consistency with the investment industry."
Ms. Tucker became CIO of the board on Jan. 1, 2020, when she replaced the retiring Gary Bruebaker, who had been CIO since 2001.
Ms. Tucker originally joined the board in 2009 and had served as senior investment officer – asset allocation and risk management since 2012 before she became CIO.
"It's a tremendous privilege and honor to have an opportunity to build on Theresa's leadership and the WSIB's legacy of investment excellence," Ms. Tucker said in the news release. "We have a strong board, a clear mission, a resilient investment program, and a talented staff. Looking ahead, we will face uncharted challenges as the investment markets come to terms with a world of ongoing economic and social uncertainties. We know better than to rely solely on past performance for our future success."
The Washington State Investment Board oversees $171.5 billion in assets, including $134.4 billion in defined benefit plan assets.
