SC pension’s chief investment officer resigns

COLUMBIA, S.C. (AP) — The chief investment officer of South Carolina’s $25 billion pension fund has resigned to take a job with a private firm in North Carolina.

The State newspaper reports that Robert Borden resigned Friday to become a managing partner and chief investment officer for FTA Partners. The new investment firm is set to launch in February with 30 employees and $1 billion in assets.

Borden leaves a job he’s held since 2006. He has clashed with state Treasurer Curtis Loftis this year over his salary and expenses. The state Retirement Investment Commission voted earlier this year to give Borden a 37 percent raise to $485,000 a year to help keep him in South Carolina.

At Loftis’ urging, the board voted weeks later to cut $65,000 from his bonus.

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Information from: The State, http://www.thestate.com