David Veal has been selected to serve as the next CIO of the Employees Retirement System of Texas (ERS).
The ERS Trust investment portfolio currently exceeds $34 billion. ERS investment portfolios include real estate, private equity, infrastructure and hedge funds.
Veal succeeds Tom Tull, who last year announced his plans to retire this summer after 12 years at ERS. He was selected from a pool of highly qualified candidates following a nationwide search conducted with the assistance of Korn Ferry, a global organizational consulting firm. Veal will step into the role in early August.
Veal brings more than 20 years of investment experience to the role, including a track record of success across both the private and public sectors. He most recently served as CIO for the City of Austin Employees’ Retirement System for the past five years.
Prior to that, he served as director of strategic partnerships and research for the Teacher Retirement System of Texas,
