The Teacher Retirement System of Texas has named deputy CIO Jase Auby as its chief investment officer, replacing Jerry Albright at the state’s largest public pension fund.
Auby joined the retirement system in 2009, according to a statement Friday from TRS. Albright, who has served as CIO since mid-2017, will remain at the pension for as long as one year as senior managing director of global investment initiatives.
“It has been the honor of my lifetime to serve the members of TRS in many roles over the past twenty-five years,” Albright said in the statement. “I end my tenure as CIO knowing that we have weathered some financial storms, but the fund and its strategy are on the right path for our members.”
TRS is the largest public retirement system in Texas, serving over 1.6 million people and managing more than $157 billion of assets, according to the statement. Auby’s new role at the pension is the final step in a leadership succession plan that Albright had presented to the board in 2016.
Albright was named CIO in 2017 to replace Britt Harris, who left the retirement system for the University of Texas’s endowment. Albright had joined TRS in 1994, filling the positions of deputy CIO, chief operating officer, and director of investment operations before taking the reins from Harris.
“Jerry’s enthusiasm for public service will leave a lasting mark on our agency,” said Brian Guthrie, executive director at TRS, in the statement. “I look forward to working with Jase Auby as he transitions into his new role and I fully support Auby’s promotion to CIO.”