Chairman David Stein announced that effective today Trustee Paul Stewart is stepping down as a member of the Board of Trustees for the State of Wisconsin Investment Board (SWIB) to focus on his other commitments and demands on his time, including his role as co-founder of PS Capital Partners in Milwaukee. Stewart was appointed to the Board in 2015.
“Serving as a member of the Board of Trustees for the last three and half years for SWIB has been a great privilege. I am proud of the work that SWIB is doing and have been honored to contribute and serve the State of Wisconsin as a trustee. I am confident that under the leadership of SWIB’s management team, headed by David Villa, SWIB is well-positioned for continued success.”
Stein said he was grateful to Stewart for helping SWIB continue to achieve success and fulfill its commitment to the more than 632,000 participants of the Wisconsin Retirement System (WRS). “On behalf of the Board of Trustees, I would like to thank Paul for his contributions and service to the Board and to SWIB,” Stein said. “I have enjoyed working with Paul and appreciate the insights and knowledge he has shared with us during his tenure.”
Stewart is one of six public members who are appointed by the Governor to six-year terms and confirmed by the state Senate. The nine-member Board of Trustees is responsible for setting long-term investment policies, asset allocation, benchmarks, and fund level risk, providing oversight, and for monitoring investment performance.
SWIB is a premier investment organization with more than $117 billion in assets under management, including the trust funds of the Wisconsin Retirement System, one of the nation’s only fully funded public pension plans.