
Corporate Moves
MainePERS Begins Search for Deputy CIO
The $18.6 billion system hired a search firm to fill the role left by Zack McGuire’s June departure.
The proposal’s aim is to reduce risk and enhance income, report to trustees says.
The state pension fund has more than $1 billion invested in companies such as Chevron, Exxon, and ConocoPhillips.
Effort seeks to ‘rebalance’ portfolio.
Investment returns decelerate in second half, rising only 2.5% since Jan. 1.