Champaign, IL – The SURS Board of Trustees has hired Michael Schlachter, CFA, as the System’s new chief investment officer (CIO).
Schlachter will replace current CIO Doug Wesley when he retires in March of 2024. In the interim, the two will share responsibilities with Schlachter having the title of CIO designee.
Schlachter, who will start his new position on Nov. 14, was most recently a managing director and senior portfolio manager for Los Angeles Capital Management and Equity Research. Prior to that he spent the majority of his career in investment consulting at Wilshire Associates and Mercer Investment Consulting where he advised public and multinational corporate pension clients.
SURS conducted a nationwide search over the past four months to fill the CIO position with the assistance of Korn Ferry.
“SURS trustees, CIO Doug Wesley and I were impressed with Michael’s extensive experience, especially his work with large public pension plans helping manage their portfolios and craft their long-term investment strategies,” said SURS Executive Director Suzanne Mayer. “We are very happy to have him as part of the SURS team and I look forward to working with him for years to come.”
Schlachter and his family will be relocating from Colorado to central Illinois where he has family ties.
“I’m excited to join SURS and work with Suzanne, Doug, the board, investment team and staff,” said Schlachter. “This is an exceptional opportunity to work with a highly regarded board and lead an investment department with a history of strong investment performance.”
Schlachter received his Master of Business Administration from the University of Chicago Booth School of Business and his B.A. from Princeton University.
The State Universities Retirement System of Illinois serves over 250,000 members and 61 employers and oversees $26.8 billion in defined benefit and defined contribution plan assets. The System provides retirement, disability and survivor benefits to state university and community college faculty and staff.