Cowell: NC Pension Funds Investor Didn't Resign

The chief investment officer of North Carolina's public pension funds was removed from her job after she chose not to resign her post managing $60 billion.

The State Treasurer's Office disclosed the information Thursday in response to a public records request about last month's departure of Patricia Gerrick.

Treasurer Janet Cowell's office said Aug. 25 Gerrick had resigned after five years on the job. But a Sept. 9 memo by Cowell said she removed Gerrick because Gerrick decided in early September not to resign.

Cowell's memo doesn't provide specifics about why she removed Gerrick, who couldn't be reached for comment Thursday.

Gerrick made $340,000 a year, making her among the highest paid employees in state government.

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