The State Universities Retirement System of Illinois announced on Friday the hiring of Michael Schlachter to the position of CIO, succeeding Doug Wesley, who will retire in March 2024, the fund announced in a press release.
Schlachter will start his new role on November 14, following a four-month search by executive search firm Korn Ferry.
Michael Schlachter
“I’m excited to join SURS and work with [SURS Executive Director] Suzanne [Mayer], Doug, the board, investment team and staff,” Schlachter said in a press release. “This is an exceptional opportunity to work with a highly regarded board and lead an investment department with a history of strong investment performance.”
Schlachter was previously a managing director and portfolio manager at Los Angeles Capital Management and Equity Research. He was also a partner at investment consultant Mercer and held managing director titles at Prudential Investment Management and Wilshire Associates.
“SURS trustees, CIO Doug Wesley and I were impressed with Michael’s extensive experience, especially his work with large public pension plans helping manage their portfolios and craft their long-term investment strategies,” Mayer said in the press release.
Schlachter earned a bachelor’s degree in politics from Princeton University and an MBA from the Booth School of Business at the University of Chicago.
Illinois SURS serves more than 250,000 current and former staff and faculty members of Illinois academic institutions. The fund manages $26.8 billion in assets for its defined benefit and defined contribution plans.
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Tags: Doug Wesley, Illinois, Illinois SURS, Michael Schlachter, State Universities Retirement System of Illinois