Local Politics

N.C. treasurer names investment officer

Posted June 7, 2010 3:07 p.m. EDT
Updated June 7, 2010 6:03 p.m. EDT

State Treasurer Janet Cowell named a new chief investment officer for the state Monday, filling a post that has been vacant since the former investment officer was fired last fall.

Shawn Wischmeier will manage investments for the $68 billion state pension fund and supervise a staff of 22. He held the same role in Indiana since 2006. He holds degrees from Northwestern University and Rose-Hulman Institute of Technology.

“Mr. Wischmeier brings a great set of analytical and management skills to this department,”  Cowell said in a statement. “I look forward to working with him as he takes on the responsibilities of leading our expert investment team that works to protect the benefits for over 820,000 retirement system members.”

Cowell fired former chief investment officer Patricia Gerrick on Sept. 4. No official reason for the move was given, but Gerrick later reimbursed the State Treasurer's Office for personal cell phone use and defended her ties to investment firms that do business with the state pension funds.