NYCERS names new CIO

Former TIAA-CREF president Scott Evans will replace Lawrence Schloss.

The New York City Employee Retirement System has named Scott Evans as chief investment officer, according to a statement.

Evans will begin working at NYCERS on 14 July, under city comptroller Scott Stringer. He will replace Seema Hingorani, who took over as interim CIO in October 2013, after Lawrence Schloss left the position to become president of investment advisor Angelo Gordon. Hingorani was formerly head of public equities and hedge funds for the pension.

Prior to his work with NYCERS, Evans spent 27 years at TIAA-CFEF Asset Management, where he served as chief investment officer and president. He managed TIAA-CREF’s $500 billion in proprietary investment assets, and sold services to pension funds, sovereign wealth funds and institutional investors, before retiring in January 2012.

Evans is also chair of the due process oversight committee of the IFRS Foundation, the governing body of the International Accounting Standards Foundation, and an external advisor to the investment committee of Dutch public pension ABP Pension Fund.

NYCERS managed $140 billion of assets, as of 6 January. The pension recently approved plans to invest an additional $1 billion in emerging managers across several asset classes, bringing the total amount of emerging manager investments to $14 billion. NYCERS had invested $5.2 billion in private equity emerging managers as of 31 December.