Elizabeth Burton, CIO of the Employees’ Retirement System of the State of Hawaii (ERS), is planning to leave after four years with the pension fund on June 30.
Thomas Williams, executive director of ERS said Burton’s decision to step down now from her CIO responsibilities is driven largely by personal and family considerations.
“We on the board of trustees are very grateful for Elizabeth’s significant contributions to the ERS,” said Vince Barfield, chair of ERS. “She joined us at a critical juncture in our investment strategy development and her expertise has strengthened our portfolio’s risk posture and performance and positioned the ERS for continued success. We will miss Elizabeth and wish her well.”
Under Burton’s leadership, investments helped Hawaii’s largest public pension fund grow from $16.6 billion in 2018 to a record $22.5 billion in assets as of Dec. 31, 2021. In the fiscal year ending June 30, 2021, the ERS posted a 26.2 percent