Kirk StebbinsThe
Oklahoma Teachers’ Retirement System (OTRS) has hired a CIO, filling a position
left vacant for the last six years.
The $13.7 billion fund selected Kirk Stebbins, former CIO of the City of Austin Employees’ Retirement System, after a national search conducted by EFL & Associates.
The new investment chief started his position on September 28, Executive Director Tom Spencer confirmed. Stebbins is reporting directly to Spencer.
“Kirk Stebbins brings 16 years of experience as a CIO in the public and nonprofit sectors to OTRS,” the executive director said in a statement. “He has one of the finest analytical minds on investment issues I’ve ever seen, and his integrity is above reproach.”
According to Spencer, Stebbins’ responsibilities include recommending changes in investment policy, monitoring compliance issues, and overseeing in-house investment managers, consultants, and fees.
He is also tasked with educating the board of trustees on investments, and conducting independent market research.
According to fund documents, Oklahoma Teachers’ gained 22.4% for the fiscal year 2014. The pension plan surpassed its benchmarks over the three- and five-year periods ending June 30, 2014, returning 13.6% and 16.1%, respectively.
Stebbins called the opportunity to lead Oklahoma Teachers’ “a professional challenge I could not pass up.”
Prior to spending seven years with Austin’s city pension, Stebbins served as CIO of the Oklahoma Public Employees’ Retirement System. He was also director of investments for the Boy Scouts of America and a consultant at Mercer.
The new CIO holds a master’s degree in finance from Texas A&M University and a bachelor’s degree from Louisiana Tech University.
Related: Oklahoma Teachers Fires Exec. Director Over Severance Packages