Deborah Gallegos, the former deputy state investment officer for that New Mexico State Investment Council, has been named chief investment officer for New York City Comptroller William Thompson.
Gallegos will begin her duties January 3.
The comptroller’s officer serves as an investment advisor for five city retirement systems with an aggregate value of approximately $85 billion (€64 billion).
The five pension funds recently approved a $4 billion allocation to private equity over the next five years. Leading the comptroller’s private equity programme is Josh Wolf-Powers, managing director for private markets.
In New Mexico, Gallegos “oversaw a significant asset reallocation and implementation of a comprehensive private equity program,” according to a press release.
Prior to that she was a vice president at JP Morgan Fleming Asset Management in New York, where she focused on emerging markets. She began her career at pension consultant Callahan Associates.
Executive search firm Heidrick & Struggles assisted with New York’s search for a CIO.
The comptroller’s office advises the Board of Education Retirement System; the New York City Employees’ Retirement System; the Teachers’ Retirement System; the Fire Department Pension Fund; and the Police Pension Fund.