Investment post draws big interest for state job
Position previously paid up to $319K, but state says it’s willing to offer even more
By Daniel J. Chacón dchacon@sfnewmexican.com
While some jobs in New Mexico government generate little interest, the state investment officer position — which pays at least $319,000 annually — surely isn’t one of them.
The hiring of a new state investment officer has drawn applicants from as close as Colorado and Texas and as far as India and Thailand, according to documents obtained under a public records request.
In all, 86 people applied for the job, including the greatgreat-grandson of the Lincoln County sheriff who was killed in a shootout with Billy the Kid in 1878 and a seasoned investment officer who noted in his application he’s been twice invited to dine with the president of the United States, though he didn’t identify which of them.
Only 25 of the applicants met the minimum qualifications.
The State Investment Council, which manages more than $48 billion in total assets, is chaired by Gov. Michelle Lujan Grisham, and its members include state Treasurer Laura Montoya and Department of Finance and Administration Secretary Wayne Propst. It interviewed six of the candidates and has narrowed the list to two finalists.
A spokesman wrote in an email late Thursday there is no document that identifies the final two candidates and noted The New Mexican didn’t specifically request the finalists’ names in its public records request. Other state agencies, school boards and others who hire for top positions in the public sector routinely disclose the names of finalists.
A selection is expected this month. The job opened in October when Steve Moise retired after 13 years, prompting a nationwide search, as well as discussions about increasing the current salary of $319,000 a year to attract a qualified replacement. A job posting by Ohio-based Hudepohl and Associates, a leading executive search firm, didn’t specify a salary but noted the compensation would be competitive to attract top chief executives.
While the job opening drew global interest, most of the applicants live in the United States, including a number of familiar names in New Mexico. They include:
♦ Olivia Padilla-Jackson, who served as Lujan Grisham’s first Cabinet secretary at the Department of Finance and Administration before she stepped down in May 2020 to take a job as vice president for finance and operations at Central New Mexico Community College in Albuquerque.
“I’ve been fortunate to serve in key positions at all levels of government and am proud of my track record for thoughtful, ethical and effective leadership,” she wrote in her cover letter. “Please consider allowing me the honor and opportunity to lead the SIC’s mission to protect and grow our state’s permanent endowment funds for current and future generations.”
♦ Jon Clark, deputy Cabinet secretary at the New Mexico Economic Development Department.
Clark wrote he would be the “best person” for the position and that his résumé was “quite unique.”
“I do not come from a traditional investment background, although I do have a finance degree and have led venture capital investments through my current role,” he wrote. “I also served as Chief Economist for the Legislative Finance Committee. However, this role does not require a traditional investment background. It requires a person who excels at making good managerial decisions and has sufficient understanding of the investment landscape to understand and act on the advice of the professional staff working at the SIC.”
♦ Greg Trujillo, executive director at the Public Employees Retirement Association.
Trujillo joined PERA in 2013 as deputy executive director and became executive director in 2021. He previously served as chief information officer for the New Mexico Educational Retirement Board from 2007 to 2013.
In his résumé, Trujillo described himself as an influential manager in state government with a “proven track record of leveraging technology to drive organizational efficiency, performance, and leadership.”
♦ Bob Jacksha, chief investment officer at the Educational Retirement Board, first from January 2007 to October 2009 and then again since April 2010.
Jacksha, who described himself as a results-oriented investment professional, served as state investment officer from October 2009 to March 2010 after he was appointed to the post on an interim basis. He previously served as deputy state investment officer from May 2004 to January 2007.
♦ Sanjay Bhakta, chief financial officer at the city of Albuquerque since December 2017.
Bhakta previously served as deputy state auditor and Administrative Services Division director and chief financial officer at the New Mexico Department of Finance and Administration.
In October, the city of Albuquerque announced Bhakta will retire at the end of the year.
♦ Charles Wollmann, director of communications, legislative and client matters at the State Investment Council since 2010. He previously served as the council’s public information officer after working as a producer and assignments manager at KOAT-TV from 1992 to 2003.
♦ Bruce Brown, private equity portfolio manager at the State Investment Council since July 2023. He previously served as deputy general counsel and chief compliance officer for the SIC.
♦ Ron Spilman, chief financial officer and controller at The Club at Las Campanas since December 2021.
Spilman previously served as state controller and chief financial officer at the New Mexico Department of Homeland Security.
♦ Bradley Fluetsch, director of financial planning at the New Mexico Finance Authority since July 2022. He previously served as cash and investment officer, interim finance director and planning and investment officer at the city of Santa Fe from September 2016 to July 2022.
♦ Vikki Hanges, chief investment officer at the State Treasurer’s Office since August 2011. She previously worked as a portfolio manager and trader in New York and Houston.
♦ Nella Domenici, who served as chief financial officer at Dataminr from 2020 to 2021 and at Bridgewater Associates from 2015 to 2018.
In her application, Domenici described herself as a public company board director, senior financial and operations executive and philanthropist, as well as an accomplished chief operating officer, chief financial officer and strategic business leader.
She is the daughter of late U.S. Sen. Pete Domenici.
“I am a native New Mexican born in Albuquerque to a family with very strong roots and involvement in the state and highly dedicated to public service,” she wrote in her cover letter.
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2023-12-08T08:00:00.0000000Z
2023-12-08T08:00:00.0000000Z
https://enewmexican.com/article/281492166094056
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