New York State CIO Vicki Fuller Resigns
Fuller will step down as investment chief of New York’s $209 billion pension fund after six years at the helm.
Vicki Fuller has resigned as chief investment officer of the New York State Common Retirement Fund, state comptroller Thomas DiNapoli announced Friday.
Fuller, who joined the $209 billion pension as CIO in 2012, will leave the fund this summer, DiNapoli said. He described her six-year tenure as an “absolute success,” noting her investment performance and “tireless concern” for the fund’s beneficiaries.
“Under Vicki’s direction, the state pension fund has produced impressive investment returns, averaging an annual growth rate of more than 8.75 percent,” he said in the statement. “The fund has gained significant value and led the nation as one of the best managed public pension funds.”
Fuller’s exact departure date has not yet been determined and she will continue to oversee day-to-day operations for the time being, according to a spokesperson for the comptroller’s office. Discussions regarding the selection of Fuller’s successor are currently underway, the spokesperson said.
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The departing CIO hinted at future plans following her resignation.
“There is never a great time to leave a place like the New York State Common Retirement Fund, but there are several goals I want to pursue while I can,” she said in DiNapoli’s statement on her planned exit.
Fuller came to the state pension fund after nearly 30 years in the asset management industry, having started at Equitable Capital Management in 1985. The firm ultimately became part of the company that is now AllianceBernstein, where she stayed until she joined the NYS Common Retirement Fund in 2012.
Under her leadership, the New York pension fund integrated environmental, social, and governance factors into its investment process and built out a minority- and women-owned business investment program, according to the statement from DiNapoli.