Dallas Police & Fire Pension to Hire First CIO

The Dallas Police and Fire Pension System (DPFP) will begin recruiting for its inaugural CIO next month.

The newly created position at the $3.5 billion pension fund will be responsible for driving the investment strategy, but not administrative details, according to a DPFP spokesperson. Currently, the administrator acts as the fund’s CEO, overseeing administration, operations, and investments.

The Dallas, Texas-based fund will begin the official CIO search in mid to late April with an executive recruiter. The DPFP board of trustees is to decide on the salary and the recruitment timeframe in the next couple of months and work with the recruiter with a joint list of qualifications for the position.

“The board decided last October that hiring a CIO with a specialized expertise would help bolster DPFP’s investments and assets with a single focus,” the spokesperson told CIO.

The Dallas pension plan also hired a new executive director. Kelly Gottschalk, the former deputy city manager of Tucson, Arizona, will act as the administrator to the fund and lead a team of 35.

As the executive director, Gottschalk will be responsible for leading the search for a CIO, according to the job posting. She will also be working closely with him or her on reviewing the asset allocation and executing policies and strategies “to ensure the system’s ongoing financial health.”

Gottschalk will be paid a base salary of $270,000 with no bonus, and will begin her position on or about April 15.

According to DPFP’s documents, the pension plan is currently 75.6% funded and has generated a 9% return net of fees over the past 30 years. As of September 30, 2014, the fund returned 3.6%, 6.6%, and 6.5% over the 1-year, 3-year, and 5-year periods, respectively.

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