Key Takeaways
- • New York City Comptroller Brad Lander appointed Steven Meier as Chief Investment Officer of the New York City Retirement System (NYCRS) and Deputy Comptroller for Asset Management, starting August 1, 2022.
- • Meier previously served as Assistant Treasurer and Interim CIO for the Connecticut Office of the State Treasurer, overseeing a $40 billion public pension system and its ESG initiatives.
- • Meier's prior roles include Executive Vice President and CIO for Global Fixed Income, Currency, and Cash Management at State Street Global Advisors, where he oversaw more than $900 billion in assets.
- • The appointment concludes a nationwide search led by Korn Ferry, following the December 2021 departure of former CIO Alex Doñé; Interim CIO Michael Haddad served for seven months.
- • NYCRS comprises five funds valued at more than $250 billion and serving roughly 750,000 members, retirees, and beneficiaries.
Summary
New York City Comptroller Brad Lander has appointed Steven Meier as Chief Investment Officer for the New York City Retirement System (NYCRS) and Deputy Comptroller for Asset Management, effective August 1, 2022, according to the Comptroller's announcement. The appointment closes a nationwide search led by the executive search firm Korn Ferry, which began after former CIO Alex Doñé departed in December 2021. Interim CIO Michael Haddad, who served for the past seven months, was thanked by Lander for his leadership during a period of market volatility.
Meier brings more than 40 years of experience across the public and private sectors. He most recently served as Assistant Treasurer and Interim Chief Investment Officer for the Connecticut Office of the State Treasurer, overseeing the investments of the state's $40 billion public pension system and its ESG initiatives. Earlier, he spent more than a decade at State Street Global Advisors, where he rose to Executive Vice President and CIO for Global Fixed Income, Currency, and Cash Management, overseeing over $900 billion in assets. He also served as an independent board trustee at Six Circles Funds/JPM Access Multi-Strategy Funds, which has $60 billion in assets under management. His earlier career includes Credit Suisse, Oppenheimer Capital, Merrill Lynch Capital Markets, and Irving Trust Company. Meier is a CFA charterholder and certified Financial Risk Manager, and holds an MBA from Indiana University's Kelly School of Business and a BBA from Hofstra University's Zarb School of Business.
Lander said Meier has a strong track record in asset allocation and investment manager selection, and emphasized a goal of risk-adjusted market rate returns and long-term performance. Lander noted that the search was the first in which a broad set of NYCRS trustees formally participated in candidate interviews. An Advisory Committee assembled by Lander included Charmel Maynard, CIO of the University of Miami; Josh Steiner, chairman of Castleton Commodities International and senior adviser to Bloomberg LP; Roy Swan of the Ford Foundation; and Monte Tarbox of the National Electrical Benefit Fund. Advisory committee members volunteered their time.
In the new role, Meier will oversee the Comptroller's Bureau of Asset Management, which manages the city's pension portfolio, and serve as investment advisor and custodian for NYCRS. He will lead a team of more than 100 investment and operations professionals spanning public equities, fixed income, private equity, alternative credit, opportunistic fixed income, hedge funds, private real estate, risk, compliance, corporate governance, and ESG. NYCRS comprises five funds, including NYCERS, TRS, the NYC Police Pension Fund, the NYC Fire Pension Fund, and BERS, with combined assets above $250 billion serving 750,000 members, retirees, and beneficiaries.
Meier brings more than 40 years of experience across the public and private sectors. He most recently served as Assistant Treasurer and Interim Chief Investment Officer for the Connecticut Office of the State Treasurer, overseeing the investments of the state's $40 billion public pension system and its ESG initiatives. Earlier, he spent more than a decade at State Street Global Advisors, where he rose to Executive Vice President and CIO for Global Fixed Income, Currency, and Cash Management, overseeing over $900 billion in assets. He also served as an independent board trustee at Six Circles Funds/JPM Access Multi-Strategy Funds, which has $60 billion in assets under management. His earlier career includes Credit Suisse, Oppenheimer Capital, Merrill Lynch Capital Markets, and Irving Trust Company. Meier is a CFA charterholder and certified Financial Risk Manager, and holds an MBA from Indiana University's Kelly School of Business and a BBA from Hofstra University's Zarb School of Business.
Lander said Meier has a strong track record in asset allocation and investment manager selection, and emphasized a goal of risk-adjusted market rate returns and long-term performance. Lander noted that the search was the first in which a broad set of NYCRS trustees formally participated in candidate interviews. An Advisory Committee assembled by Lander included Charmel Maynard, CIO of the University of Miami; Josh Steiner, chairman of Castleton Commodities International and senior adviser to Bloomberg LP; Roy Swan of the Ford Foundation; and Monte Tarbox of the National Electrical Benefit Fund. Advisory committee members volunteered their time.
In the new role, Meier will oversee the Comptroller's Bureau of Asset Management, which manages the city's pension portfolio, and serve as investment advisor and custodian for NYCRS. He will lead a team of more than 100 investment and operations professionals spanning public equities, fixed income, private equity, alternative credit, opportunistic fixed income, hedge funds, private real estate, risk, compliance, corporate governance, and ESG. NYCRS comprises five funds, including NYCERS, TRS, the NYC Police Pension Fund, the NYC Fire Pension Fund, and BERS, with combined assets above $250 billion serving 750,000 members, retirees, and beneficiaries.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.