The New Hampshire Retirement System (NHRS) hired Raynald Lévèque to serve as chief investment officer (CIO), effective Oct. 1, after a seven-month search conducted by EFL Associates.
Lévèque is joining NHRS from the State of Connecticut, which he left on Sept. 1, and where he has served as deputy chief investment officer since January 2020. In this capacity, he was second only to the CIO in managing the $46 billion fund. At New Hampshire, he replaces Larry Johansen, who retired on Sept. 1.
As CIO, Lévèque will be responsible for providing expert investment counsel to NHRS’ Board of Trustees and Independent Investment Committee (IIC) and directing all aspects of the retirement system’s $11 billion investment program.
“I’m pleased that we were able to attract a pool of outstanding candidates for this position, and I’m looking forward to working with Raynald and the IIC,” said NHRS Executive Director Jan Goodwin, in an announcement regarding Lévèque’s engagement.
Prior to joining the Connecticut Office of the Treasurer, Lévèque was with the Bank of New York Mellon, where he served as vice president of Asset Owner Strategy for more than two years. This followed a long stint at the New York State Common Retirement Fund, where he was head of asset allocation and director of risk management.
“I want to thank the New Hampshire Retirement System for the opportunity to serve New Hampshire’s retired state and local employees, police and fire employees, and teachers,” Lévèque said in the news release. “Looking ahead, we will build on the current investment success, working with the IIC and Board of Trustees to secure an equitable future for generations through strong investment performance, protecting and growing our retirees’ pension assets, and developing a robust investment office.”
Johansen announced his retirement from NHRS in January after 12 years at the system. During his tenure, NHRS’ trust fund assets more than doubled, and the investment program consistently ranked in the top quartile of peer public pension funds, according to the release.
Mark Fortune has more than 30 years of experience as a financial writer and editor, with a focus on institutional investment management. He has worked in various editorial roles at organizations that include Institutional Investor, Pageant Media, Markets Group and, most recently, at New York investment management firm Cohen & Steers.