The Maryland State Retirement and Pension System has decided to hold on to A. Melissa Moye, naming her the system’s permanent chief investment officer – the position she has held in an acting capacity for 10 months.
”I look forward as CIO to proactively implementing the Board’s investment policy and building the fund’s diversified portfolio over the long-term,”Moye said in a written statement. “
Moye, the state’s former deputy treasurer for financial policy, was selected after a nationwide search to replace former CIO Mansco Perry III. Perry left Maryland last October to take a similar position with the endowment fund of Macalester College in St. Paul, Minn.
In a written statement, State Treasurer Nancy Kopp, who chairs the Retirement System Board of Trustees, said that Moye has served the retirement system and beneficiaries with “great skill and prudence” in her capacity as acting CIO.
“Under her leadership of the Investment Division during the interim, the system returned more than 20 percent on its investments for the fiscal year that just ended June 30,” Kopp said. “Although the state is losing an outstanding deputy treasurer, the retirement system, its board of trustees, staff and members gain a CIO whom they can be confident will help maintain the financial health and sustainability of the system far into the future.”
Prior to being tapped for the retirement system position, Moye advised Kopp on financial policy issues discussed by governmental boards and commissions, such as the $36 billion State Retirement and Pension System, the Supplemental Teachers and Employees Retirement Plans and the College Savings Plans. She served as a retirement system trustee from 2003 to 2007, and was a member of the Investment Committee and chaired the board’s Corporate Governance Committee.
Before working for the state, Moye was employed by Amalgamated Bank’s trust & investment services as chief economist from 2001 to 2005, and as senior vice president and director of investment until 2007.
Moye received her B.A. from Earlham College, continued her studies at Temple University and received her Ph.D. in Economics in 1995 at the University of Notre Dame. She resides in Silver Spring with her husband.
She will be making an annual salary of $240,000, and will be eligible for annual bonuses based on portfolio performance and a leadership assessment, said system spokesman Michael Golden. Moye’s salary is slightly higher than Perry’s, who was paid $239,700.