OPERS selects new CIO

The Ohio Public Employees Retirement System has named Richard Shafer as its new CIO, according to a statement. Shafer has been acting CIO since Oct. 2014 when John Lane, the previous CIO left to become vice president and CIO at Ohio State University.

As the CIO of the $91.2 billion pension fund, Shafer will be in charge of the annual investment plan and the long-term investment strategy.

“Rick Shafer brings more than 40 years of collective investment experience gained in managing public- and private-sector pension investment plans,” said Karen Carraher, OPERS executive director, in the statement. “His strong investment background and significant track record will be instrumental as we work to strengthen our asset base and implement investment policy.”

Before joining OPERS in 2009, Shafer was director of investment at the New Hampshire Retirement System and CIO at the Alaska Permanent Fund. Additionally, Shafer spent 25 years in management positions at insurance companies.