Employees Retirement System of Texas (ERS) Chief Investment Officer Tom Tull will retire in the summer of 2021 after almost 12 years with the agency. ERS announced his planned departure in October and is working with a search firm to find his successor.
ERS Executive Director Porter Wilson says Tull has been a critical part of ERS’ success in managing its $29 billion investment program.
“Tom’s skill and expertise helped transform the investment portfolio by moving more investment management in-house, saving on external fees and incorporating alternative assets including internal high-yield and infrastructure teams,” he says.
Tull joined ERS in 2009 as director of strategic research following a successful career in the private sector. He was named chief investment officer in 2012. Before joining the agency, he served for 11 years on the agency’s Investment Advisory Committee (IAC), which advises the ERS Board of Trustees on investments and related issues.
Tull’s industry accolades include the CIO Industry Innovation award, Institutional Investor Public Funds CIO of the Year and AIF Institute Statewide Accredited Program Excellence award. He also served a three-year term on the National Adjudicatory Council of the Financial Industry Regulatory Authority (FINRA) and was a member of the Investor Advisory Board of the National Institute of Public Finance.
Tull says he hopes to continue to serve ERS in whatever capacity he can for the benefit of the Trust and its beneficiaries.
“It has been an honor and pleasure to serve ERS in a number of roles over the years,” he says. “I have been very fortunate at ERS to have had a tremendous Board and IAC to work with as well as an excellent team.”
Organizational consulting firm Korn Ferry is assisting ERS in the transition, with help in finding Tull’s replacement.