Teacher Retirement System of Texas (TRS) Deputy CIO Jerry
Albright took over as Interim CIO last week, the fund said
one member of a deep bench of Austin investment talent
who could potentially succeed Britt Harris.
Chief investment officer Harris is departing after a decade to lead the
University of Texas Investment Management Company (UTIMCO), a
smaller fund headquartered blocks from TRS, the pension
confirmed last week.
With the UTIMCO job filled after a long search,
Harriss position has unexpectedly opened. Names of
potential replacements or at least those interested
have begun swirling in the Texas capitals
tight-knit investment community.
Albright took over as interim CIO last week, in an immediate
decision announced by TRS executive director Brian Guthrie.
Im confident that Jerry will carry on Britts
legacy as we continue the outstanding program that he
established, Guthrie said in the statement.
Three other internal candidates are being talked about,
according to sources close to the situation: Eric Lang (Senior
Managing Director of External Private Markets), Chi Chai
(Senior Managing Director of Internal Public Markets), and
Chief Risk Officer Jase Auby.
Auby has been named deputy CIO, according to a
spokesman for TRS. He said in an email that the board will
consider plans for filling the CIO position permanently at its
July 13 meeting.
Eric Lang is the co-chair of the Management Committee
and a member of the Investment Committee, so if there is anyone
that looks to me like Britts number two guy, it would be
him, says one source.
The TRS board has not announced a search for a permanent
replacement. Many public entities are obliged to conduct formal
searches for executive openings, but TRS is not, according to
In the meantime, speculation continues as to who will strive
to follow in Harriss undoubtedly large footsteps.
As Neuberger Berman CEO George Walker said after hearing the
news, Britt is an absolute force of nature.