City Treasurer Kurt Summers hired former Illinois Tollway executive Kristi Lafleur and the former Chief Investment Officer for the New York State Insurance fund, Miriam Martinez, to help manage the city’s $7 billion investment portfolio.
Lafleur will take over the role of Deputy Treasurer, Chief Operating Officer with a starting salary of $113,898, according to 2015 Budget numbers. Lafleur will oversee day-to-day operations and help Treasurer Summers implement several key initiatives he unveiled when he first took office in December 2014. This includes his neighborhood and infrastructure investment plan he dubbed “Invest in Our Chicago”, as well as his proposal to streamline fees the city pays financial service firms that handle the city’s 11 public pension funds.
As head of the Tollway Authority in the Pat Quinn Administration, Lafleur was widely credited with reducing patronage at the agency and helping to make it more efficient, following the excesses of the Blagojevich years.
Martinez will serve as the Treasurer’s new Chief Investment Officer and will carry out the same duties she had in her former job as the fiduciary of the $16 billion fund for New York state public employees.
In addition to hiring Lafleur and Martinez, Summers also named Alexandra Sims the new Director of Programs and Intergovernmental Affairs.