Maryland pension fund names new CIO
Andrew Palmer will join the $46 billion Maryland State Retirement and Pension System as its new CIO, according to a statement released June 1. Palmer will take over as CIO July 22.
Palmer currently serves as the deputy CIO of the Tennessee Office of the Treasurer, which invests on behalf of the $43 billion Tennessee Consolidated Retirement System.
Palmer “comes to Maryland with an exceptional depth of experience in managing assets for a large public pension plan such as ours. He has a strong track record of success as a portfolio manager, and with it, a vision for what is necessary for Maryland’s investment program going forward,” said Maryland State Treasurer Nancy Kopp in a statement.
Palmer’s experience covers both private and public sector work starting in 1985. He has been Tennessee’s deputy CIO since 2008.
“I am thankful for the opportunity to work with the trustees and staff of MSRPS on the important work of helping to ensure retirement preparedness and security for the plan’s more than 388,000 participants,” Palmer said in a statement.
Palmer is replacing Melissa Moye, who left MSRPS in August 2014 for a position with the U.S. Treasury Department. Deputy CIO Robert Burd has been acting CIO and will return to deputy CIO.