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VRS Selects Korn/Ferry International to Lead CIO Search
RICHMOND, VA Feb. 22, 2011 — The Virginia Retirement System (VRS) Board of Trustees announced the selection of Korn/Ferry International to assist in the search for a new chief investment officer for the $54-billion public pension system.
Chief Investment Officer Charles Grant announced in September 2010 that he will not renew his contract when it expires in August 2011. In response, the VRS Board of Trustees formed a CIO Search Committee.
"As an international company, Korn/Ferry possesses extensive experience in executive recruitment services," said Diana F. Cantor, chairman of the Chief Investment Officer (CIO) Search Committee of the Board of Trustees. "We look forward to working with the Korn/Ferry team to conduct a comprehensive search to fill this critical position in our Investments area."
VRS serves approximately 600,000 members, retirees and beneficiaries. The active employees include about 146,000 teachers, 104,000 local government employees and about 90,000 state employees. In addition, VRS provides benefits to over 155,000 retirees and beneficiaries. The retirement system ranks as the nation's 22nd largest public or private pension fund.
