State names new chief investment officer

Petroleum News Alaska Staff

John Jenks, who has worked for the Department of Revenue and Alaska Permanent Fund Corp. since 1991, has been promoted to chief investment officer of the Treasury Division. Jenks, 40, succeeds Bob Storer, who left the position in February to become executive director at the Permanent Fund Corp.

“We’re fortunate to have someone as qualified as John Jenks who can step up to lead our investment staff,” said Wilson Condon, Department of Revenue commissioner. “He has the confidence of the investment community and the skills needed to manage a diversified portfolio of state money and public employee retirement funds.”

The department manages almost $5 billion in state investments, including the general fund, Constitutional Budget Reserve Fund, Children’s Trust and School Trust. It also works with the Alaska State Pension Investment Board to manage $13 billion in the public employees and teachers retirement funds.

Jenks has managed the real estate and private-equity investment portfolios for the Department of Revenue since November 1998. He was a senior investment officer at the Permanent Fund Corp. in 1997-1998, where he helped manage a $10 billion fixed-income portfolio. He served the state as an investment officer at the Department of Revenue from 1991 to 1997. Before joining the state, Jenks was deputy treasurer for the City and Borough of Juneau from 1985 to 1991.

Jenks, a Chartered Financial Analyst, holds two degrees from Washington State University — a bachelor’s degree in business administration in 1982 and a master’s degree in accounting in 1984.