EFL Associates Recruits CIO for the Colorado Retirement Association

March 9, 2017 – Executive search firm EFL Associates has placed Amy C. McGarrity as chief investment officer of the $44 billion Colorado Public Employees’ Retirement Association.

Ms. McGarrity has held investment positions in both the private and public sectors. Most recently, she was a global equities product specialist with William Blair & Company in Chicago. Before that, she was with the Colorado Public Employees’ Retirement Association after the merger of the Denver Public Schools Retirement System in 2010. She currently serves as a member of the Investor Advisory Group and Public Company Accounting Oversight Board.

“The Colorado Public Employees’ Retirement Association is extremely fortunate to lure Amy back to the organization,” said Gregory W. Smith, CEO of the Colorado Public Employees’ Retirement Association. “Our team and board of trustees look forward to her leadership of the investment program.”


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“I’m delighted to return to Colorado and to lead a dynamic team of investment professionals whom I consider my colleagues,” Ms. McGarrity said. “The association has an excellent investment track record and I am honored to be entrusted to manage the retirement assets on behalf of Colorado’s public employees.” The Colorado Public Employees’ Retirement Association provides retirement and other benefits to the employees of more than 500 government agencies and public entities in the state of Colorado.

EFL Associates is an executive search firm that provides talent management solutions from offices in Kansas City, Denver, Houston, New York City and St. Louis. The firm specializes in the following sectors: finance & banking, higher education, non-profit, life sciences, energy, construction & engineering, consumer packaged goods, manufacturing, public pension organizations, chief financial offices, and board services.


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According to recruiters specializing in the function, demand for executive level, “high impact” investing talent has been on the rise; that demand is expected to soar in coming years. But recruiters say these roles can be generally difficult to develop and ultimately fill for clients, given their multi-disciplinary and evolving nature. In fact, impact investing roles are new to many organizations, they report ….. Here’s some further reading from Hunt Scanlon Media.

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“It is no secret that demand for high quality CIO’s across the asset allocator spectrum, including endowments and foundations‎, corporate, public and state plans, has increased significantly over the last five years as expectations regarding performance has ratcheted up post financial crisis,” said David Barrett, managing partner of David Barrett Partnersa boutique specialist search firm which recruits senior and C-level professionals for the investment and wealth management sector.

Recruiting top talent in our space has always been challenging and, even with the ongoing advances in technology and proliferation of third-party candidate databases, it will not get easier,” said Mr. Barrett in an interview with Hunt Scanlon Media several months ago. He said pay was a key factor; successful professionals are paid well throughout the sector, he opined, giving little incentive or reason for them to consider moves elsewhere.

“In an increasingly competitive marketplace, the challenge for recruiters in this space will be to demonstrate they have the relationships, market credibility, and industry knowledge to not just serve up candidates, but to deliver the right candidates,” he added.

“Demand for CIOs in alternatives, especially real assets, is on the rise as firms take the lead from investors increasingly seeking assets with lower correlation to the stock and bond markets and higher returns,” said Maria de Rossi, a partner at Odgers Berndtson, who specializes in financial services with a focus on alternative asset management, investment banking and private equity.

Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media

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