Search Bears Fruit for MassPRIM

During the 2002 gubernatorial debate in Massachusetts, former Bain Capital chief Mitt Romney criticized opponent Shannon O’Brien for patronage hires while serving as state treasurer.

Among the targets of Romney’s criticisms was O’Brien’s deputy treasurer, Michael Travaglini.

Travaglini – who once served as executive director of the City of Boston Retirement Board – is the younger brother of Robert Travaglini, a state senator at the time who since has been named Senate president.

All this is interesting to consider now that Michael Travaglini was named executive director of the Massachusetts Pension Reserves Investment Management Board (MassPRIM), where he will replace the ousted James Hearty, and following an endorsement by Romney.

Treasurer Tim Cahill previously wanted Hearty’s successor to be Steven Weddle, an unknown VC from South Africa, but that plan was nixed after criticism from Romney and others, who argued that the replacement process should be opened up to a nationwide search.

Executive recruitment firm Russell Reynolds Associates was hired, and eventually came up with Travaglini, whose selection was endorsed by both Cahill and Romney.