Former Wilshire Consulting exec now Rhode Island pension CIO

Rhode Island General Treasurer Seth Magaziner announced the appointment of Andrew Junkin, former Wilshire Consulting president, as the state’s chief investment officer. Since 2015, Junkin served headed Wilshire’s team of more than 80 investment professionals and over his entire 15-year tenure at the firm he worked with public and corporate pension funds, foundations, endowments and insurance companies. At Rhode Island, Junkin replaces Alec Stais, who took the CIO post following his role as managing director at Goldman Sachs Asset Management. Stais reportedly left at the end of May to become CIO at Providence Health & Services in Washington state. Junkin stepped down from his role at Wilshire back in March. Officials reorganized the role to promote Jason Schwarz as a chief operating officer of the consulting firm. “I look forward to working with Treasurer Magaziner, his team, and members of the State Investment Commission,” Junkin said in a statement. “I share their commitment to ensuring that Rhode Island’s pension system continues on its path of long-term growth and stability for our members who have spent their careers serving others.” The $7.9 billion Employees’ Retirement System of Rhode Island recently added more than $300 million to alternative investments. In March’s market collapse, the retirement fund staff found that its crisis protection allocation enacted in 2016 did what it was supposed to do. Rhode Island’s crisis strategy gained 6.5% in March as the overall portfolio declined only -6.7%. The crisis protection strategy is made up of long-duration U.S. Treasury bonds and systematic trend following managers totaling $787 million.

Former Wilshire Consulting exec now Rhode Island pension CIO

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