NYC Comptroller Mark Levine Announces the Appointment of Monte Tarbox as Interim Chief Investment Officer for the Bureau of Asset Management

New York, NY — New York City Comptroller Mark Levine announced his appointment of Monte Tarbox as Interim Chief Investment Officer for the Comptroller’s Office’s Bureau of Asset Management (BAM), and the commencement of a nationwide search for a permanent CIO managed by widely respected recruitment firm Korn Ferry. Former CIO Steven Meier stepped down at the end of 2025.

Tarbox will be responsible for leading BAM and spearheading Comptroller Levine’s responsibilities as investment advisor and custodian, overseeing the $308.83 billion investment portfolio of the city’s five public pension systems during the ongoing search for a permanent CIO. Comptroller Levine is committed to taking a strategic approach to maximizing risk-adjusted market returns that guarantee retirement security. At the same time, he will be focused on advancing strategies that promote sustainable long-term growth across the Systems’ investment portfolios and deliver for New Yorkers across the five boroughs.

“Safeguarding the pensions of the hundreds of thousands of retirees who devoted their careers to public service is one of the most important mandates for my office, and I take this responsibility extremely seriously,” said New York City Comptroller Mark Levine. “I am thrilled that Monte Tarbox will bring a proven track record of delivering results for pensioners to this role. At this pivotal moment of economic uncertainty, I am committed to ensuring strong and steady investment leadership so that retirees can feel confident knowing their assets are being managed prudently and with care.”

Tarbox has more than three decades of experience as a chief investment officer and investment advisor. This includes extensive experience working with several pension and retirement plans across the country, bringing a deep understanding of the unique responsibilities of institutional investing to this role.

“It is an honor and a privilege to join Comptroller Levine’s administration and execute the crucial work of delivering retirement security to our retirees and active employees,” said Interim Chief Executive Officer Monte Tarbox. “Public service has always been a core value for me, and I welcome the opportunity to serve New York City and its hardworking employees at this important moment.”

Most recently, Tarbox was president of the AFL-CIO Investment Trust Corporation until January 2024. Immediately prior he served as the Executive Director, Investments, for the National Electrical Benefit Fund (NEBF) for ten years and was CIO of the Machinists National Pension Fund in Washington. He has also held senior roles with including five years with global institutional investor IFM Investors and investment consulting firms in Chicago, Washington, and Melbourne, Australia.

In 2024, President Joseph R. Biden appointed Tarbox to the Advisory Committee of the Pension Benefit Guarantee Corporation in Washington, DC. He also serves as a member of Maryland State Retirement and Pension System’s investment committee and was a trustee on the Board of Investments for the Montgomery County Public Schools Retirement System in Rockville, MD for 18 years.

He also spent two years as the Executive Director of the AFL-CIO Center for Working Capital where he developed a trustee training and education program and created a trustee curriculum on fiduciary duty and investment responsibilities.

Tarbox received a Bachelor of Arts from Carleton College and a Master of Business Administration from the University of Chicago with a specialization in finance.

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