By David G. Barry
After eight years as chief investment officer of The
Church Pension Group (CPG), Roger A. Sayler has announced plans to
retire at the end of the year.
In a statement, CPG said that under Sayler’s guidance, the investment portfolio
has grown by more than 60% to $18.4 billion. C. Curtis Ritter, a senior vice
president with CPG and head of corporate communications, said the intention is
to have a new CIO on board by the time Sayler departs. Recruiting firm Russell
Reynolds is heading the search.
CPG added that Sayler’s “leadership and investment prowess have ensured that we
remain well positioned to meet our financial obligations to those who serve The
Episcopal Church for years to come. We are exceedingly grateful for his
exemplary stewardship.”
The Church Pension Fund (CPF) returned 13.7% for the fiscal year ending March
31. For the 10-year period ending March 31, it has an annualized return of 9.9%,
exceeding its investment goal of 6.8%.
Sayler joined CPG after serving as chief operating officer
at Columbia Management Group. Previously he spent 20 years at J.P.
Morgan Investment Management Inc., where, as managing director, he headed
such areas as structure equity portfolio management and mutual funds and served
as global head of derivates.
The Church Pension Group serves The Episcopal
Church and maintains three lines of business—benefits, insurance, and publishing.
CPG provides retirement, health, life insurance and related benefits for clergy
and lay employees of The Episcopal Church, as well as property and casualty
insurance and book and music publishing.