Timothy Reese Wins National Award for Innovation in Investment Strategies at PMRS

Timothy Reese Wins Prestigious Award

The Pennsylvania Municipal Retirement System (PMRS) is celebrating a momentous occasion as its CEO and Chief Investment Officer, Timothy Reese, has recently been named the recipient of the Chief Investment Officer's 2024 Industry Innovation Award. This accolade recognizes his outstanding contributions to advancing investment strategies within the organization, positioning PMRS as a leader in the public pension sector.

A Trailblazer in Public Pension Management

Timothy Reese has been at the helm of PMRS, overseeing the management of nearly 1,060 pension plans that collectively boast assets worth approximately $3.56 billion. With a vision focused on modernization and innovation, Reese has successfully transformed PMRS's investment approach. Under his leadership, investment returns have surged nearly 22%, a testament to his effective portfolio management and strategic decision-making.

Barry L. Sherman, Chairman of the PMRS Board, praised Reese’s exceptional leadership, stating that his innovative strategies and collaborative efforts of the PMRS team have been pivotal in enhancing operations and service delivery to members. Such recognition on a national platform underscores the impact of Reese's forward-thinking mindset within the financial services sector.

The Award Significance

Winning the 2024 Industry Innovation Award from Chief Investment Officer is no small feat. Reese was chosen among a competitive field of nominees in the Public Defined Benefit category, focused on plans with assets under $25 billion. This award has a storied history, as Chief Investment Officer has been honoring industry leaders since 2010, spotlighting those who drive innovation within the asset management space.

On receiving this honor, Reese stated, "I am honored to have received the CIO Asset Owner Industry Innovation Award. This achievement symbolizes the relentless dedication and hard work of the entire PMRS team. Together, we’ve not only modernized our agency but also improved retention rates and managed our assets more effectively."

The Path to Success

Reese joined PMRS as a consultant in 2021, guiding the organization towards modernizing its investment strategies. His extensive experience includes founding Forge Intellectual Capital, a consultancy that offers strategic advice to managers within both public and private finance. Additionally, he served as the Treasurer of Pennsylvania from 2015 to 2017, where he managed a substantial investment portfolio worth $20 billion.

Reese’s commitment to de-risking and diversifying the investment portfolio at PMRS has been instrumental in navigating market fluctuations, a crucial strategy for safeguarding the financial assets entrusted to municipal retirees.

Looking Ahead

As PMRS celebrates this remarkable achievement, the organization continues to focus on providing cost-effective retirement plans to local government employees across Pennsylvania. With Reese's innovative leadership, PMRS is well-positioned to tackle future challenges while enhancing its offerings to members.

For a complete list of awardees and more information about the CIO’s Industry Innovation Awards, visit CIO's website.

In conclusion, Timothy Reese’s leadership at the Pennsylvania Municipal Retirement System is not just about accolades; it is about laying a foundation for sustainable investment growth and exemplary service for future generations of public employees. As PMRS moves forward, it aims to uphold its commitment to modernization, stakeholder engagement, and innovation, ensuring that the retirement funds for Pennsylvania’s municipal workers are safeguarded and grow effectively.