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Connecticut Pension CIO Out After Ten Days

New investment chief Sean Crawford has already been replaced by deputy CIO Laurie Martin.

Sean Crawford spent just ten days as the chief investment officer of the Connecticut Retirement Plans and Trust Funds.

A spokesperson for the pension fund confirmed on Friday that Crawford was no longer at the fund, and had been replaced by Deputy CIO Laurie Martin. It’s unclear why Crawford, previously the CIO for New York’s transit work retirement plans, left the $34 billion pension fund so quickly. 

According to a person familiar with the matter, Crawford, who started at the fund on May 14, left on May 23.

“This is an unfortunate situation,” Connecticut state treasurer Denise Nappier said in a statement. “Going forward, I wish Sean the very best in his future plans.”

The new CIO, Martin, served as interim CIO for 15 months following the departure of Crawford’s predecessor, Deborah Spalding, in February 2017.

“This is an appointment well deserved,” Nappier added.

[II Deep Dive: The 2015 Pension 40: Denise Nappier]

Crawford did not respond to a LinkedIn message seeking comment. His profile on the site still lists him as the chief investment officer of Connecticut’s pension fund. 

His former employer, the New York Metropolitan Transportation Authority, declined to comment for this story.

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