Connecticut Treasurer Denise Nappier on Thursday promoted Laurie Martin to chief investment officer of the $34 billion Connecticut Retirement Plans and Trust Funds, after Sean Crawford abruptly resigned 10 days into the job.

“This is an unfortunate situation," state Treasurer Denise Nappier said of Crawford's resignation. "I wish Sean the very best in his future plans.”

According to Nappier, Connecticut’s independent Investment Advisory Council approved Martin's appointment unanimously.

"This is an appointment well deserved," she said.

Connecticut Treasurer Denise Nappier addresses the Municipal Forum of New York in May 2017.
"This is an appointment well-deserved," Connecticut Treasurer Denise Nappier said Laurie Martin's promotion. Dan Nelken


Crawford had held the same position at New York's Metropolitan Transportation Authority since 2014. There, he oversaw the investment activity for the authority’s $15 billion defined benefit plan, deferred compensation plan, captive insurance company and other post-employment benefits plan.

Martin joined the state Treasury in October 2016 as deputy chief investment officer, and served as interim CIO for 15 months.

Crawford will head the Treasury’s pension funds management division, with responsibility for collaborating in the development and implementation of investment policy; conducting due diligence and fund performance evaluation; assisting in the recommendation of external investment advisors, consultants and other service providers; and directing the day-to-day administration of the investment program.

Before her arrival at the Treasury, Martin managed investment programs for Baystate Health Inc. for 20 years. She also has held investment accounting positions at ITT Hartford and Mass Mutual Life Insurance Co.

She is a certified internal auditor and a certified public accountant, and holds a master's degree in business administration from the University of Massachusetts.

The overall value of the Connecticut Retirement Plans and Trust Funds was $34.4 billion as of Dec. 31. Nappier said is was its highest level ever at the end of a calendar year.

Overall, the CRPTF exceeded the investment performance of 70% of its peers, according to Wilshire Trust Universe Comparison Service data.

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Paul Burton

Paul Burton

Paul Burton is the Northeast Regional Editor for The Bond Buyer and the author of the book "Tales from the Newsrooms." He is a sought-after public speaker and has appeared on radio and TV shows, including former CBS News White House correspondent Sharyl Attkisson’s public-affairs program, “Full Measure.”