Current CIO of the State of Hawaii Employees’ Retirement System (ERS), Kristen Varela, has been selected to serve as CIO of the $71 billion New Mexico State Investment Council (SIC). She will succeed Vince Smith as CIO.
Varela has served as CIO of Hawaii ERS since 2023. Before relocating to Hawaii, Varela served at the Public Employees Retirement Association (PERA) of New Mexico, including deputy CIO for nearly five years, as well as other leadership roles for three years. Prior to joining New Mexico PERA, Verela was an investment analyst at the First National Bank of Santa Fe.
Varela holds a Bachelor of business administration from New Mexico Highlands University.
Correction: A previous version of this story stated that Varela is transitioning to New Mexico PERA, but she has been selected at New Mexico SIC.
