Ohio PERS Names Interim Investment Chief

Richard Shafer has been named interim chief investment officer of the The Ohio Public Employees Retirement System (OPERS), nearly two months after fulltime CIO Jenny Hom stepped down. Shafer joined OPERS in May, after having served as director of investments for the New Hampshire Retirement System and, before that, was chief investment officer of the Alaska Permanent Fund.

PRESS RELEASE

The Ohio Public Employees Retirement System (OPERS) today announced that Richard D. Shafer, OPERS’ deputy director of investments, has been appointed interim chief investment officer (CIO).

As interim CIO, Shafer will work closely with OPERS Chief Executive Officer Chris DeRose and the investment division’s senior leaders in executing the investment plan.

Shafer brings 30 years of collective investment experience gained in the insurance industry and with pension plans. He joined OPERS on May 27, 2009 as deputy director of investments for external management with primary responsibility for the development and execution of the investment strategies for private equity, real estate and the utilization of external public managers to meet OPERS’ investment goals and objectives.

Prior to joining OPERS, Shafer was the director of investments for the New Hampshire Retirement System and the CIO of Alaska Permanent Fund Corporation. He obtained a Bachelor of Arts degree from Dartmouth College and holds the Chartered Financial Analyst (CFA) designation.

OPERS’ former chief investment officer, Jennifer C. Hom, resigned on June 4, 2009 for personal reasons.

With assets of $60.5 billion, OPERS is the largest public pension fund in Ohio and the 12th largest public pension fund in the U.S. In operation since 1935, OPERS provides retirement, disability and survivor benefits for public employees throughout the state and serves nearly 936,000 members, including more than 166,500 retirees and beneficiaries.