NC Investment Chief: Work With Cowell Was Rocky

The former chief investment officer of North Carolina's public pension funds says she was surprised when State Treasurer Janet Cowell asked her to leave last month.

Patricia Gerrick told WRAL-TV on Friday that her professional relationship with Cowell was rocky in recent months. But she said she knew of nothing behind the scenes to lead to her termination.

A Sept. 9 memo from Cowell released Thursday gave no specifics about Gerrick's removal except that she gave Gerrick the opportunity to resign and she refused.

Gerrick told the station Cowell wouldn't agree to her terms.

Gerrick made $340,000 annually, making her one of the highest paid state employees. She said she hasn't decided whether to challenge her firing.

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