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Monte Tarbox was officially named the permanent chief investment officer for the Office of the New York City Comptroller’s $316.34B Bureau of Asset Management.

Appointed by New York City Comptroller Mark Levine, Tarbox had been serving in the role on an interim basis since the beginning of the year. According to a press release, he left retirement to succeed Steven Meier, who resigned from the role in November to join Neuberger Berman as vice chair of institutional.

Tarbox brings a deep understanding of the unique responsibilities of institutional investing to the role and will work in close collaboration with the systems’ trustees and independent investment consultants, noted the release.

“I am thrilled to announce the appointment of Monte Tarbox as our chief investment officer,” Comptroller Levine said in a statement. “Monte’s judgment and second-to-none experience in investment management has already proven to be the leadership we need as we face economic headwinds.”

As the permanent CIO, Tarbox will ensure the Bureau executes Comptroller Levine’s responsibilities as investment advisor and custodian to the five New York City public pension systems. He will also drive the Comptroller’s strategic approach to maximizing risk-adjusted market returns that guarantee retirement security while advancing strategies that promote sustainable long-term investment portfolio growth.

The release also said the appointment comes at a crucial time for the Systems as mounting geopolitical pressures increase the importance of a prudent investment strategy that can weather constant market volatility.

Levine added that Tarbox’s appointment will continue to provide the Bureau’s trustees and pension members with the necessary reassurance that safeguarding their assets is the Office’s most important focus.

Tarbox is a veteran investment and pension professional with decades of experience managing large retirement funds, overseeing asset allocation and developing governance and trustee education programs. He has held senior leadership roles across major pension and investment organizations, guiding strategy and investment oversight. In 2024, he was appointed by President Biden to the Pension Benefit Guaranty Corporation Advisory Committee.

“They often say that a pension is a promise, and it is my honor to continue delivering on that promise with the talented staff of the Bureau of Asset Management and in partnership with our trustees,” said Tarbox, in the release. “I am grateful to the trust that Comptroller Levine has placed in me at this crucial moment and look forward to this next chapter for the City’s pension systems.”