After concluding an extensive national search, the Virginia Retirement System Board of Trustees today announced the appointment of Andrew H. Junkin as VRS chief investment officer. VRS, the 17th largest public pension system in the U.S., has a trust fund that exceeds $100 billion and serves more than 750,000 active and retired members.
“Andrew has demonstrated vision and skill as an investor in both the public and private sectors. He has led high-performing teams, worked collaboratively in a range of environments and developed innovative investment strategies. His collective experience serves as a critical foundation to continue the excellence and performance of the VRS investment program,” said VRS Board of Trustees Chair A. Scott Andrews.
Junkin joins VRS from Rhode Island where he serves as the chief investment officer managing a team that oversees the state’s $10.5 billion pension plan, a $2 billion defined contribution plan and other funds. Previously, he was with Wilshire Consulting for 15 years and served as president for the last five years, leading a team of investment professionals where he worked with public and corporate pension funds, foundations, endowments and insurance companies. Prior to joining Wilshire, he served as senior consultant and president of Asset Services Co. in Oklahoma.
“I look forward to joining the dynamic, nationally recognized VRS investment team that is known for innovation and successful investment strategies. My goal is to build on this team’s achievements, remaining focused on VRS’ efforts to deliver investment returns within the risk parameters of the fund, and to ensure retirement security for Virginia’s dedicated public servants,” said Junkin.
Junkin will begin serving in the CIO role in September. Korn Ferry conducted a national search for the CIO position on behalf of the VRS Board of Trustees. As previously announced, current CIO Ron Schmitz will retire effective January 2023, but will remain with VRS through the end of the year to provide continuity and facilitate an effective transition.
