2025 The Next Elite Part 1

Annie Chao serves as Deputy Chief Investment Officer at the Los Angeles Fire and Police Pensions (LAFPP), where she has played a critical role in enhancing the investment program and cultivating a forward-thinking investment team. Under her leadership, LAFPP's assets have grown from $13.9 billion to $33.5 billion, achieving a total fund return of 8.38%, ranking in the top 10th percentile among public pension plans nationwide. Chao has been instrumental in hiring and developing a team of next-generation investment talents and fostering a culture of innovation and diversity in thought and strategy. She has introduced a new real assets implementation plan, strengthening the program's resilience and diversification. In addition to her contributions to team development, Chao has focused on drafting and implementing investment policies and guidelines aimed at improving risk-adjusted returns while ensuring adherence to best practices and robust risk controls. Her leadership and vision continue to drive LAFPP’s commitment to excellence and innovation in public pension fund management.

Joe Fazzino is the Deputy Chief Investment Officer at RTX, overseeing over $100 billion in corporate pension plan assets. He brings a wealth of experience across asset classes and market environments, actively managing U.S. defined benefit plans through strategic asset allocation, liability modeling, and the selection and oversight of investment managers. His expertise includes global equities, fixed income, private credit, private equity, real estate, hedge funds, and other alternative asset classes. In his role at RTX, Fazzino has led de-risking strategies designed to preserve the funded status of pension plans while mitigating corporate pension expense volatility and future cash contribution requirements. He has successfully managed pension assets through significant corporate events, including mergers (Goodrich, Rockwell Collins, Raytheon), divestitures (Sikorsky, Otis, and Carrier), pension risk transfers, and major funding initiatives. Fazzino also served as a board member of the Connecticut Retirement Security Authority (CRSA) from 2017 to 2022, where he played a pivotal role in developing a retirement savings program for private-sector employees in Connecticut. His leadership during this tenure, appointed by Governor Dannel Malloy, highlights his commitment to advancing retirement security initiatives on both corporate and public platforms.

Ghiané Jones is the Deputy Chief Investment Officer of the Teachers’ Retirement System (TRS) of the State of Illinois, which manages $74 billion in assets and is one of the largest public pension systems in the United States. TRS provides retirement benefits to over 457,000 members. Based in Chicago, Jones oversees TRS’s newly established city office and leads the investments department, reporting directly to the Executive Director and Chief Investment Officer. In her role, Jones collaborates with the TRS Board of Trustees to advance the system’s investment strategy and operational excellence. She has spearheaded initiatives such as the triennial asset allocation and asset liability review process, enhancements to performance reporting and analytics, and the restructuring of the Diversifying Strategies hedge fund portfolio. Additionally, Jones has optimized several asset class portfolios, developed comprehensive training programs, and led the hiring and onboarding of investment professionals to build a dynamic and capable team. She is a strong advocate for innovation and continuous strategic improvement, consistently implementing industry best practices. Jones brings a wealth of institutional investment and consulting experience. Before joining TRS, she was a Managing Principal and Investment Consultant at Meketa Investment Group in Chicago, advising defined benefit and health & welfare funds, including Taft-Hartley, nonprofit, and public plan sponsors. At Meketa, she was a key member of the Diversity Leadership, Emerging & Diverse Manager, Endowment & Foundation, and Executive Committees. Her earlier career includes roles at Invesco, Northern Trust Asset Management, and Goldman Sachs, further solidifying her expertise in investment strategy and portfolio management.

Eneasz Kądziela is the Deputy Chief Investment Officer and Head of Private Equity for the NYC Comptroller’s Office – Bureau of Asset Management. He oversees a $39 billion global private equity and alternative credit portfolio for the five NYC Retirement Systems, the third-largest public pension plan in the United States. Since taking on this role, Kądziela has spearheaded significant enhancements to the portfolio, including upgrading manager quality, expanding co-investment activities, growing the direct PE Emerging Manager program, and successfully leading a secondary sale process. Before joining the NYC Comptroller’s Office, Kądziela served as Director of Research and Fund Relations at the Small Business Investor Alliance (SBIA), where he supported lower middle market private equity funds and institutional investors. Earlier in his career, he worked as a sell-side Equity Research Associate at Cross Research Group, specializing in the technology sector. Kądziela holds a BA in Economics from Rutgers University and has earned both the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations.

Jason Morrow is the Deputy Chief Investment Officer at Utah Retirement Systems (URS), overseeing $45 billion in pension assets and $9 billion in defined contribution plans. Recognized as one of the best-governed, performing, and funded public funds in the U.S., URS benefits from Morrow's expertise in building culture, developing teams, and managing portfolios across hedge funds, private credit, real assets, and private equity.

Having joined URS in 2007, Morrow became DCIO in 2015 and has since directed the investment research process, championed risk management, and nurtured talent development within the organization. His dedication to institutional investment policy extends beyond URS as a member of the CAIA Asset Allocators Advisory Committee and as an Investor Board Member at AIF Global, an independent economic think tank.

Before his tenure at URS, Morrow's career included roles in corporate finance, product management, and healthcare data information systems. He holds an MBA and a BS from the University of Utah, where he currently serves as an adjunct professor in the Masters of Finance program.