Clark Takes Charge of State Investments as Steve Moises Retires
The New Mexico Investment Council has announced the appointment of John Clark as the new State Investment Officer. Clark, who previously served as acting cabinet secretary at the Economic Development Department, was selected after a nationwide search that attracted over 80 applicants. Governor Michelle Lujan Grisham, who chairs the 11-member council, expressed confidence in Clark’s abilities to handle the responsibilities of the position.
A Critical Role in Managing State Investments
As the State Investment Officer, Clark will oversee the management of New Mexico’s state investments, which have gained significant importance due to the surge in state government income from oil and natural gas production in the Permian Basin. With billions of dollars being set aside in surplus state income each year, the council plays a crucial role in ensuring the long-term stability and growth of these funds.
Successes and Challenges Ahead
The State Investment Council is responsible for various trust accounts, including the early childhood education trust created in 2020. With approximately $6 billion already in the fund, the council aims to generate investment earnings to support the expansion of public preschool, no-cost child care, and home nurse visits for infants. This initiative aligns with the voters’ approval of increased annual distributions from the land grant fund to public schools and early childhood education programs.
Transition from Steve Moises to John Clark
John Clark assumes the role of State Investment Officer following the retirement of Steve Moises, who served in the position for 13 years. Clark brings a wealth of experience to the role, having previously worked as an analyst and chief economist to the budget and accountability office of the Legislature. His appointment comes with an annual salary of $285,000.
The investment council’s decision to appoint Clark reflects their confidence in his ability to navigate the complex landscape of state investments and continue the council’s efforts in securing a prosperous future for New Mexico.
