The board of the Maryland State Retirement and Pension System named Robert Burd as acting CIO at the fund’s June 17 meeting. Burd, currently deputy CIO of the $70 billion pension fund, will take up the role on July 1.
Andrew Palmer, who has been CIO of Maryland SPRS since 2015, will retire at the end of the month. Burd has held the role of deputy CIO since 2011 and previously served in the acting CIO role during the CIO transition from Melissa Moye to Palmer.
“The board’s decision to appoint Robert Burd as Acting CIO ensures the system continues to benefit from a steady hand and deep institutional knowledge,” said Maryland Comptroller Brooke E. Lierman in a statement. “His leadership during this time of transition will be invaluable as we chart the next chapter for the system’s investment strategy.”
Maryland SRPS manages the retirement benefits of 168,000 retirees and beneficiaries, as well as the future benefits for more than 245,000 active and former members, who are predominantly state employees, educators, law enforcement personnel and other state government employees.
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