New York’s Metropolitan Transportation Authority is searching for a new chief investment officer who will be responsible for $14.5 billion of assets.
The CIO will be paid between $147,327 and $220,990 a year to oversee six retirement accounts totaling $13.9 billion plus funds with a combined $600 million of assets tied to the MTA’s captive insurance company, First Mutual Transportation Assurance Co., according to a job posting on the transportation system's website.
“The chief investment officer position is posted, and we welcome all qualified applicants,” Aaron Donovan, a spokesperson for the MTA said Friday via email.
The role was left vacant by the MTA’s former investment chief, Sean Crawford, who left the transit authority to become CIO at Connecticut Retirement Plans & Trust Funds. Crawford left that fund after ten days, and it is unclear where he will work next. The MTA spokesperson declined to comment on Crawford’s time at the fund.
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The person who replaces him will have institutional investing experience and “a track record of success as an investor of significant pools of assets across multiple asset classes,” according to the MTA's job posting. Candidates should have “knowledge of the theory and practice of asset allocation, portfolio risk management and investment structuring,” the listing shows. The hours of the job are 9 a.m. to 5:30 p.m. daily.
Crawford spent roughly three and a half years as the MTA’s CIO, his LinkedIn profile shows. He did not respond to a message on LinkedIn seeking comment.