Leadership Transition at Division of Investment Announced

(TRENTON) – New Jersey Department of the Treasury’s Division of Investments Director Corey Amon announced Tuesday that he is resigning his position, effective June 4, to pursue a new opportunity. Shoaib Khan, Deputy Director of the Division, will serve as Acting Director following Amon’s departure to ensure a seamless transition in order to protect the retirement of hundreds of thousands of public employees.

“Corey’s hard work and commitment have placed the Division in a strong position as we begin to emerge from the COVID pandemic. His dedication to pension fund members and the way he honored his fiduciary duty has been commendable. We are thankful for his service and wish him all the best as he embarks on the next chapter of his career,” said Treasurer Elizabeth Maher Muoio.

“The experience I have gained at the Division has afforded me a new career opportunity that I am excited to embark upon,” Amon said. “It has been my privilege to serve as Director.  I am proud to have been a part of the Division since 2014, helping to safeguard the investments made on behalf of the Pension Fund’s 800,000 participants with the highest fiduciary standards.”

“To the credit of Corey and his team, the Division of Investment has navigated many issues and undertaken important initiatives during his tenure as Director,” said Deepak Raj, chair of the State Investment Council, and Adam Liebtag, vice chair of the Council. “NJ DOI and the Council have created ESG and governance initiatives, improved our investment reporting and resources, and tackled complicated challenges. We will continue to build from a solid foundation.”

Recent Division of Investment accomplishments under Amon’s direction include:

• Adding diversity- and sustainability-focused leadership to the Division including the hiring of Eddie Ramos as the first Diversity Portfolio Manager and the elevation of Suzanne Hannigan as the first Sustainable Investing Portfolio Manager.
• Realizing strong Pension Fund investment returns during FY21.  So far, on a fiscal year-to-date basis through April 30, the Pension Fund’s preliminary return is +22.6% as has grown to an estimated $90 billion. Notably, this preliminary return would mark the Pension Fund’s best fiscal year since 1998.
• Expansion of the senior management team with key hires including Tisha Turner as the first Chief Operating Investment Officer, Bill Connors as the Head of Fixed Income, and Niraj Agarwal as the Head of Real Assets.