(February 20, 2014) — The Fort Worth Employees’ Retirement Fund has chosen Joelle Mevi, former CIO of New Mexico’s pension system, as its executive director and CIO after a six-month long nationwide search.
Mevi will begin running the $2 billion Texas portfolio on March 17, replacing Interim Executive Director Robert Hulme. Ruth Ryerson, the former executive director, resigned in May last year to join the Wyoming Retirement System.
“We are fortunate to have attracted Joelle to Fort Worth,” said Billy Samuel, chair of the Fort Worth Employees’ Retirement Fund board. “She has broad-based asset class experience and a positive investment performance track record; [New Mexico’s] Public Employees’ Retirement Association (PERA) Total Fund returns exceeded benchmarks for all reporting periods during her tenure as CIO.”
Serving as CIO at New Mexico’s PERA from 2010 to 2013, Mevi grew its net assets from $10.2 billion to $13.4 billion and made an average return of 12.53% for the three years.
Prior to her position at PERA, Mevi worked as CIO in the state treasurer’s office, managing its $5 billion operating fund. She also oversaw a 12-person staff, responsible for fixed income portfolio management, debt service funding, overnight repurchase program, and collateral verification.
Mevi received her MBA from the University of New Mexico’s Anderson School of Management and a bachelor’s degree in business administration from California State University East Bay. She holds a Government Finance Manager Certification from the Association of Government Accountants.
“I enjoyed my recent visits to the Fort Worth area and look forward to working collaboratively with the board, serving its members and interacting with city leadership and community stakeholders,” Mevi said in a statement.
According to the Fort Worth pension plan’s recent reports, the fund gained 12.32% for the year ending December 31, 2013. Three-year returns were 7.8%, while 5-year returns were 11.06%. The fund serves more than 10,000 members and distributes more than $135 million annually in benefits.
“Joelle is a proven leader with a track record of staff development and building strong relations with constituents and stakeholders,” said Mike Bickley, Retirement Fund board member and chair of the search committee. “We look forward to her joining the retirement fund soon.”
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