John Lane, until recently chief investment officer (CIO) at the Ohio Public Employees Retirement System (OPERS), has left the $88.6 billion pension fund to serve in a similar role at Ohio State University (OSU), OPERS and OSU said in separate statements.
In his new role, Lane will manage the university’s $3.4 billion long-term investment pool. He will report to senior vice president and chief financial officer Geoff Chatas. Lane succeeds Jonathan Hook, who after serving as the university’s first CIO since 2008 resigned earlier this year.
Lane joins OSU after serving as CIO at OPERS since 2010. Prior to OPERS, he was director of pension investments for Eastern Kodak and CIO for the Pennsylvania Public School Employees’ Retirement System, a role he held for 12 years.
OPERS, which said it will launch a nationwide search for a new investment director, has named Richard Shafer – currently deputy director within OPERS investments division – interim CIO.
The university’s long-term investment pool includes a $1.7 billion endowment, a foundation endowment and operating funds. The portfolio generated a net return of 14.4 percent in fiscal year 2014, according to the OSU statement.