Timothy Walsh has gained approval from the New Jersey State Investment Council to become the new chief investment officer for the $70 billion state retirement fund.
Walsh replaces William Clark, who resigned in early 2009. Previously, Walsh was the chief investment officer of the Indiana State Teachers Retirement Fund, where he oversaw an $8.5 billion portfolio.
Before joining the Indiana teachers' fund, Walsh was a senior trader in fixed income securities and foreign currencies for the Bank of Montreal, Nationsbank, Continental Bank and Bank Boston. He ran his own investment advisory firm, Walsh Financial Services, which provided wealth