Bryan Lewis, chief investment officer of the Pennsylvania State Employees’ Retirement System, will be leaving the $29 billion fund.
Lewis’ last day will be August 2, as he departs for another career opportunity, said the plan. He will still participate its July 30-31 board meeting.
Lewis has been with the fund since 2016.
The Pennsylvania organization’s investment committee recommended Deputy CIO James Nolan serve as interim CIO while it searches for a new head at a special meeting. It is not known if Nolan has accepted, but Penn SERS has high hopes.
“We are confident that Jim Nolan, along with senior investment staff and other SERS investment professionals, have the knowledge and skills to maintain a steady course until the time a new chief investment officer is appointed,” said Executive Director Terrill Sanchez.
If Nolan accepts, he would begin August 3, the day after Lewis exits.
Nolan joined the retirement system in 2015. Besides asset allocation, risk management, and cost containment, he also oversees the investment structure of the deferred compensation plan, a voluntary supplemental investment plan for plan members.
He also led the implementation of the investment structure of the fund’s defined contribution that launched at the beginning of the year.
Lewis’ new position was not disclosed. He was unable to be reached for comment.
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Tags: Bryan Lewis, CIO, James Nolan, Pennsylvania State Employees Retirement System, Pension