State Treasurer Denise Nappier on July 9 promoted Deborah Spalding chief investment officer of the $30 billion Connecticut Retirement Plans and Trust Funds. Spalding had been deputy CIO since November 2013.

The Investment Advisory Council confirmed the appointment at its meeting the previous day.

Spalding succeeds Lee Ann Palladino, who retired after 10-plus years at the Connecticut Treasury.

Spalding, who lives in Guilford, co-founded Working Lands Investment Partners LLC of New Haven, Conn., an independent investment management firm that invests in expanding environmental markets for wetlands mitigation credits, water quality and quantity instruments, habitat banking, and carbon.

Previously, she was executive director and head of international investments for Schroder Investment Management NA, where she was lead portfolio manager of $6 billion in institutional client assets. Additionally, she worked at Scudder Kemper Investments as managing director and head of international institutional investments and lead portfolio manager for $10 billion in client assets.

Spalding earned a bachelor's degree from Tufts University and has master's degrees in East Asian religion, business administration, and forestry from Harvard University, the University of California, Berkeley, and Yale University, respectively.

The IAC also endorsed Nappier's recommendation to proceed with a national search for a deputy chief investment officer and to move quickly to fill several open principal investment officer positions.

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