US - New York City Comptroller William C. Thompson Jr, who is the custodian and investment adviser to the boards of the city's five primary employee pension funds with assets totalling US$85bn, has appointed Deborah E. Gallegos chief investment officer.
Gallegos, who most recently served as the deputy state investment officer for the New Mexico State investment council where she oversaw a significant asset reallocation and implementation of a comprehensive private equity program, will take up her position on January 3.
Announcing the appointment, Thompson said: “[Gallegos] brings a wealth of leadership skills and significant experience in both public pension policy and the private sector. She most certainly will be a valuable asset to my office.”
The Comptroller oversees the New York City Employees’ Retirement System (NYCERS), the Teachers’ Retirement System of the City of New York (TRS), the New York City Police Pension Fund, the New York City Fire Department Pension fund and the New York City Board of Education Retirement System (BERS).
In her new role, Gallegos will supervise the development of overall investment policies, standards and guidelines, the Comptroller said. She will also oversee the Bureau of Asset Management’s evaluation and oversight of investment advisers and consultants.
Prior to her appointment, Gallegos was a vice president at JP Morgan Fleming Asset Management in New York, where she worked for six years on the global emerging markets fund. She also worked for Morgan Stanley & Co. in its equity research group.
Houston-based executive search firm Heidrick & Struggles advised the Comptroller’s office on the nationwide search.
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