Tuesday, October 27, 2009

Doug Brown to Head SIO Search

Gov. Bill Richardson just announced he's appointing Doug Brown to head the search for a new State Investment Officer to replace recently resigned Gary Bland. This is the same Doug Brown who in 2005 was appointed by Richardson in 2005 to be interim state treasurer when then-treasurer Robert Vigil, indicted (and later convicted) in a federal corruption investigation, had resigned under threat of impeachment.

Bland resigned in the face of a growing state investment investigation and a threatened vote of no confidence by the State Investment Council. Richardson's press release doesn't mention Bland's name.

Brown currently is dean of the University of New Mexico’s Anderson School of Management.

On the search committee are three SIC members Andrew Davis, Stephen Feinberg and Peter Frank -- all Richardson appointees -- who signed a resolution seeking a no-confidence vote for Bland.

“Doug Brown has a history of unselfish service to the state and I appreciate the fact that he is willing to head the search for one of the most important positions in state government,” said Gov. Richardson, who is the chairman of the State Investment Council.

Also on the search committee is Katherine Miller, secretary of the state Department of Finance.

Richardson also named Bob Jacksha, currently chief investment officer for the Education Retirement Board, to serve as interim SIO during the search. Jacksha has worked before as deputy SIO for the SIC.