Key Takeaways
- • Kristin Varela, a Pecos High School graduate with nearly two decades of experience in financial markets and public pension asset management, was named chief investment officer of the New Mexico State Investment Council on Tuesday, March 24, 2026, making her the first woman to hold the post.
- • Varela has served as chief investment officer of the Employees' Retirement System of the State of Hawaii since January 2023 and was one of only two finalists selected from hundreds of applicants, according to State Investment Officer Jon Clark.
- • Publisher reporting indicates the position carries an annual salary of $455,000.
- • The appointment returns Varela to New Mexico, the state where she was raised and which she described as "near and dear to me."
Summary
The New Mexico State Investment Council, which oversees the state's sovereign wealth fund, announced on Tuesday that Kristin Varela has been appointed its chief investment officer. According to the Santa Fe New Mexican, Varela is the first woman to hold the position. She appeared remotely at the council meeting where the appointment was announced.
Varela brings nearly two decades of experience in financial markets and public pension asset management. Since January 2023 she has served as chief investment officer of the Employees' Retirement System of the State of Hawaii. Council State Investment Officer Jon Clark said she was selected from hundreds of applicants and was one of only two final candidates.
In remarks following the announcement, Varela said, "New Mexico is near and dear to me, and the opportunity to come home and serve the people I love the most was very, very powerful." The Santa Fe New Mexican characterized the appointment as a "boomerang story" given her Pecos High School background and family roots in New Mexico, including a multigenerational ranching family.
Publisher reporting states the role will pay $455,000 a year. The council described the appointment in its own announcement as a return of a home-state professional to lead the fund.
Varela brings nearly two decades of experience in financial markets and public pension asset management. Since January 2023 she has served as chief investment officer of the Employees' Retirement System of the State of Hawaii. Council State Investment Officer Jon Clark said she was selected from hundreds of applicants and was one of only two final candidates.
In remarks following the announcement, Varela said, "New Mexico is near and dear to me, and the opportunity to come home and serve the people I love the most was very, very powerful." The Santa Fe New Mexican characterized the appointment as a "boomerang story" given her Pecos High School background and family roots in New Mexico, including a multigenerational ranching family.
Publisher reporting states the role will pay $455,000 a year. The council described the appointment in its own announcement as a return of a home-state professional to lead the fund.
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