By David G. Barry
The New Jersey Division of
Investment
will soon have a new director and chief investment officer.
The NJ State Investment Council voted unanimously to send an undisclosed list
of qualified candidates to state Treasurer Elizabeth Maher Muoio for
final selection. Muoio is expected to disclose her choice shortly.
Shoaib Khan has been serving as acting director and CIO since Corey
Amon left the role last May to become CIO of the National Rural Electric
Cooperative Association, which has funds totaling $25 billion.
Khan joined New Jersey in early 2021 after being a senior portfolio manager at
the Florida State Board of Administration.
The director oversees the unit that manages investments for the $85.8 billion
New Jersey Pension Fund. Lawmakers last year took steps to make the role more
attractive, eliminating the cap on the position’s $200,000 annual salary. Muoio
has final discretion on the salary for the role.
The move came after the pension system was fully funded for the first time in
some 25 years and saw its third director of investments leave in the past
decade. Amon had held the role on a permanent basis since 2019.
Recruiting firm EFL Associates handled the search.