North Carolina CIO Resigns Unexpectedly | Chief Investment Officer

“I was surprised when Mr. SigRist gave me his resignation letter,” said Folwell in a statement. “It was not asked for, but I feel confident that we will continue to provide stable management for the pension fund.”

In his letter of resignation, SigRist said he thanked his “department teammates for the honor of working alongside them.”

SigRist joined the North Carolina Department of State Treasurer in 2013 as its CIO. Prior to working for the state of North Carolina, he was an employee of the Florida State Board of Administration for 16 years, most recently as its deputy executive director in 2012. Prior roles also include positions as an economist at Norwest Corporation as well as for the state of Missouri’s division of budget and planning.

Folwell didn’t name an interim replacement, but said “we will be announcing plans for the department in the very near future.”

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Just last week, Folwell announced preliminary state pension fund returns for Q2, reporting gains of 2.7% for the quarter and 10.6% for the fiscal year ending June 30, 2017. The fund’s assets were valued at $93.9 billion, up from $92.2 billion at the end of Q1. During Q2, the fund achieved its highest valuations ever, according to Folwell.

The North Carolina Retirement Systems fund is the 10^th-largest public pension fund in the US, and provides retirement benefits and savings for more than 900,000 North Carolinians.

Tags: North Carolina, resignation, SigRist

Photo of Julian Mund from LinkedIn

The UK’s Pensions and Lifetime Savings Association (PLSA) has named Julian Mund as its new chief executive effective August 1.

“We considered who would be the most appropriate fit for the role as well as consulting our strong succession plans, and Julian’s appointment is a result of those,” said Lesley Williams, current chair of the PLSA, in a statement. “He has successfully led the PLSA team during a very uncertain time, ensuring stability and the continuity of our work.”

Mund is currently the acting CEO, and has been the PLSA’s commercial services director since 2013. He replaces Joanne Segars, who announced her resignation in April to pursue a portfolio career.

“As chief executive, I want us to champion and focus on the areas that matter most to our members, and help us to provide a strong foundation for people’s retirement income,” said Mund in a statement.

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Mund, who has been credited with growing the PLSA’s commercial income by 29%, previously worked at the Chartered Institute of Public Finance and Accountancy (CIPFA) for 16 years, where he was most recently director of markets and product development. Prior to that, he worked at the Institute of Public Finance for 10 years.

Mund has a degree in mathematics from London University and a master’s degree in policy research from Bristol University. He is a Fellow of the Royal Statistical Society and a Member of the Institute of Directors.

The PLSA’s members include more than 1,300 pension plans with 20 million members and £1 trillion in assets ($1.3 trillion).

Tags: Julian Mund, PLSA, Segars