May 29 (Bloomberg) -- Scott Evans, who managed almost $500 billion in proprietary assets at the TIAA-CREF retirement system, was named chief investment officer of New York City’s $150 billion pension funds, Comptroller Scott Stringer said.
Evans, 55, retired in 2012 after 27 years at New York-based TIAA-CREF, which manages pensions for more than 3.7 million people in academic, research, medical and cultural fields, according to a statement from Stringer’s office. Evans will take over July 14 from Seema Hingorani, who has overseen the city’s five funds for 700,000 people since October, when Larry Schloss departed.
“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 the statement.
Evans holds a master’s of business administration in finance from Northwestern University and a bachelor’s degree in economics from Tufts University, according to Stringer’s office. He is an adviser to a Dutch public pension plan and is a member of the board at the William T. Grant Foundation and the investment committee at Tufts.
Evans will earn $224,000 a year, said Eric Sumberg, a spokesman for Stringer. Hingorani’s plans haven’t been determined, he said.
(An earlier version of this story was corrected to change million to billion in first paragraph.)
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