The South Carolina Retirement System Investment Commission (RSIC) has announced that Geoff Berg, its long-serving CIO, is leaving the organization to pursue a new opportunity.
Berg joined RSIC in 2008, and was named interim CIO in 2015, and permanent CIO in 2016. His departure caps off a successful tenure as RSIC’s CIO.
The changes Berg instituted have resulted in improvement to the portfolio’s absolute and relative investment performance. During Berg’s tenure as CIO, the portfolio’s market value increased from almost $28 billion to more than $50 billion, all while servicing more than $5 billion in net benefit payments above contributions into the Retirement System. Most importantly, Berg has been a key player in the efforts to shore up the fiscal health of the retirement system.
Berg will remain with RSIC until September and will serve as senior adviser to the CEO to assist with the transition. In accordance with RSIC’s succession plan, deputy CIO Bry
