Minnesota hunting for new investment chief

Minnesota hunting for new investment chief Click to Enlarge Photo:

Sep 11, 2013 at 4:33 am

ST. PAUL, Minn. (AP) Minnesota leaders are on the verge of naming a new state investment chief who will manage a state portfolio of valued at more than $68 billion.

The State Board of Investment was meeting Wednesday amid indications that a nationwide search has concluded. Current executive director Howard Bicker is retiring next month after more than 30 years at the helm.

The investment board is comprised of the governor, attorney general, state auditor and secretary of state.

The investment chief is the day-to-day manager of the massive state portfolio, which affects pension accounts for thousands of retired public workers.

Minnesota contracted with an executive search firm to find a Bicker successor, paying around $100,000 for the personnel hunt.

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