CIO at Houston Muni. to Retire
September 20, 2006
Neal Wallach, CIO of the $2 billion Houston Municipal Employees' Pension System, (HMEPS) will retire at the end of the month, he told IMW.
He has been with the fund for more than 14 years and was the first investment officer for the plan. Wallach confirmed that his successor has been named, but declined to comment further. Peter Koops, spokesman for HMEPS, could not be reached by press time.
Meanwhile, Wallach expressed that the fund is well positioned for his retirement.
"We just never had a better time to pass the baton," he said. "We had a spectacular year. Our returns were 18.1% for the last fiscal year and 16.9% for the past three years. It's sort of like a Michael Jordan ending."
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