Scott Evans, a 27-year veteran of pension fund management at TIAA-CREF, will be chief investment officer for the $150 billion New York City
"Scott is a respected and experienced finance professional who will bring decades of knowledge to the comptroller's office Bureau of Asset Management," Stringer said in a statement.
Evans, who will start July 14, succeeds Seema Hingorani, who held the interim role for six months.
At TIAA-CREF, the nation's leading retirement provider with enrollment of more than 3.7 million, Evans served in successively larger roles, including chief investment officer.
He retired in 2012 as president of asset management. In that role, Evans managed $500 billion in proprietary investment assets across multiple asset classes in addition to selling services to pension funds, sovereign wealth funds and other institutional investors.
In addition, Evans serves as a trustee and chair of the Due Process Oversight Committee of the IFRS Foundation, the governing body of the International Accounting Standards Foundation; external advisor to the investment committee of ABP Pension Fund, a Dutch public pension plan that is one of the largest in Europe, but draws on advisors from outside Europe; a board member of the William T. Grant Foundation; and a member of the investment committee of Tufts University, his alma mater.
He also holds a master's degree in finance from Northwestern University and is a member of the New York Society of Security Analysts and is a chartered financial analyst.
The city's primary employee pension funds are the New York City Employees' Retirement System; the Teachers' Retirement System of the City of New York; the New York City Police Pension Fund Subchapter 2; the New York City Fire Department Pension Fund Subchapter Two; and the New York City Board of Education Retirement System.
Each pension fund is financially independent and has its own board of trustees.
Moody's Investors Service rates the city's general obligation bonds Aa2. Fitch Ratings and Standard & Poor's rate them AA.
