After a year-long search, Oregon’s Treasury named John Skjervem as the chief investment officer for the state’s main pension funds, which collectively manage $74 billion in assets. Skjervem replaces Ronald Schmitz, who announced last September that he was leaving…
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When a large public pension fund dangles $900,000 in potential compensation in front of applicants, it gets a lot easier to lure top talent.
That is exactly what the $51 billion Virginia Retirement System did when it announced it hired Ronald Schmitz (pictured) as its chief investment officer, replacing Charles Grant, whose contract expired in August. Schmitz is scheduled to start at the end of October.
Schmitz was hired away from the $60 billion Oregon Public Employees Retirement System, where he has been chief investment officer since 2003. Prior to Oregon, Schmitz had a similar role at the Illinois State Board of Investment.