US - The US$31bn Teachers' Retirement System of the State of Illinois (TRS) has named Stan Rupnik its new chief investment officer.
Rupnik takes over from executive director Jon Bauman, who has served as interim CIO since May 2003.
After joining TRS in April 2003 as director of investments, TRS said Rupnik played a “leading role” in restructuring the fund’s investment portfolio, which achieved a 16.8% return for the year ended June 30, 2004.
TRS promoted Greg Turk to the director of investments post. Turk joined TRS from the Association for Investment Management and Research (now CFA Institute) and was a portfolio manager for Investors Management Group.
Rupnik formerly worked for GE Asset Management in Connecticut and Wayne Hummer Investments in Chicago.
TRS is the retirement system for public school teachers and administrators employed in all Illinois public schools except the city of Chicago.
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