SANTA FE, N.M.—Gov. Susana Martinez has named John Young of Santa Fe to the State Investment Council, which oversees management of New Mexico's permanent funds.

The governor appointed Young to the council in October but announced the appointment on Tuesday.

Young replaces Doug Brown, who resigned earlier this year saying he didn't have time to serve on the council. Brown is dean of the University of New Mexico Anderson School of Management.

Young graduated from the U.S. Military Academy in 1960. He worked for more than 30 years in the investment industry, including as the Investment Council's deputy state investment officer before retiring in 1999. Young once served as chief investment officer for New Mexico's educational pension system and the Teacher Retirement System of Texas.