(Bloomberg) -- North Carolinas Janet Cowell has some unusual qualities for a state treasurer: For one thing, she can say running dog of a capitalist in Mandarin. Shes also poised to voluntarily surrender her status as one of four officials nationwide with sole control over state pension investments.
The 45-year-old Democrat, a former equities analyst, this month appointed a commission to evaluate how investments are made for North Carolinas $83 billion public pension, the nations 10th largest. The board may recommend in April removing Cowell as sole trustee, replacing her with a panel or another model, according to Cowell. The system is the third-best funded among states, according to Morningstar Inc., and the Republican- dominated legislature would have to approve changes to its governance. Connecticut, New York and Michigan have similar models for oversight.
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