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Murtha named North Dakota Investment Board director

November 26, 2021 GMT

BISMARCK, N.D. (AP) — An agency key to implementing new in-state investment components of North Dakota’s $8.3 billion oil tax savings has a new leader.

The State Investment Board recently named Retirement and Investment Office interim Executive Director Jan Murtha to take over the role on a permanent basis, the Bismarck Tribune reported. The office oversees about $20 billion of assets.

Murtha, who is an attorney, has led the agency in the interim role since June, when Dave Hunter resigned for a job in Alabama.

Murtha was hired in 2020 and previously was the office’s deputy executive director and chief retirement officer.

The agency is key to effecting new in-state investment mandates of the Legacy Fund approved by the Legislature, which include making investments in companies in the state.

During the Legislature’s special session earlier this month, state lawmakers approved an additional six full-time employees and $1.8 million for salaries and expenses. Murtha has said those resources will help the office meet the new investment requirements.