The speaker of the Assembly, Sheldon Silver, will stand opposed to putting the state pension fund under the control of a board — regardless of the results of investigations into the state comptroller’s office, he said.

The district attorney of Albany County, David Soares, and Attorney General Cuomo have been conducting investigations into whether friends and associates of a former state comptroller, Alan Hevesi, illegally profited from their connections to the $154 billion state pension fund.

Investigators are reportedly focusing on millions of dollars in referral fees that investment firms doing business with the pension fund funneled to a financial services firm linked to Hevesi’s close political adviser, Hank Morris. In January, Hevesi resigned in disgrace after pleading guilty to defrauding the state by using a state employee to run errands and chauffeur his wife.

The state comptroller, Thomas DiNapoli, who was elected by the Legislature, now oversees the pension assets, one of three state pension funds in the nation under the control of a single trustee.

The investigations and scandal surrounding Hevesi have raised the issue of whether oversight of the state fund should be broadened by transferring power to a board such as the 11-member panel that governs the New York City Employees’ Retirement System.

Mr. Silver, who spoke to The New York Sun in a sit-down interview yesterday near the Assembly’s New York City headquarters in Lower Manhattan, said the outcome of the inquiries “doesn’t reflect the issue of sole trusteeship.”

He said a pension fund board would consist of “nameless faces” making “decisions and not being held accountable,” creating the same problems that have beset public authorities.

“You’ll have the same scenario or worse,” he said. “You’ll vote to give business to my guy. I’ll vote to give business to your guy.”

Governor Spitzer has said he is open to establishing a pension board, while Senate Republicans are mostly opposed to the idea. It would require an amendment to the state Constitution, which requires the approval of two successive Legislatures.

In an interview, Mr. Silver also issued a warning to the Republican Senate leader, Joseph Bruno, urging him to lay off Mr. Spitzer or face a backlash from voters.

As the feud between Messrs. Spitzer and Bruno has turned increasingly nasty, Mr. Silver has kept a safe distance. Recently, however, the speaker has sought to defuse the tension by personally reaching out to the two leaders in the hope of getting them to tolerate each other enough to pass legislation.

The 63-year-old speaker, who was dressed yesterday in a loose charcoal gray Hickey Freeman suit and a shiny Panama straw hat, presented himself as the Sun Tzu of deal making.

“I have talked to both about the art of compromise,” he said. “I’m the conciliator,” he added, breaking into a deep, sly smile — a gesture that seemed to express the incongruity of his new role. It’s hard to wipe away memories of the 12 years of discord that marked his relationship with Governor Pataki.

Lawmakers are expected to return to Albany in mid-October for a special session to sign into law informal agreements on a raft issues that the governor and lawmakers made in June, before the eruption of the state police scandal.

Republicans say they aren’t obligated to do anything. And they are threatening to block passage of campaign finance legislation backed by Mr. Spitzer unless the governor signs off on a $200 million property tax cut package for senior citizens and awards them $300 million in discretionary capital grants.

Mr. Silver said he appealed to Mr. Spitzer’s and Mr. Bruno’s political interests, arguing that voters would punish them if they didn’t break it up. “You’re turning government into political rancor,” Mr. Silver said he told them.

“They’re never going to get along, but they still have to do the work people elected them to do,” the speaker said. “People are going to be evaluating what we have done.”

The speaker’s intervention could put him on a collision course with Mr. Bruno, who has accused the governor of covering up his administration’s misdeeds and said he’s determined to find out if Mr. Spitzer or his chief of staff, Richard Baum, had any involvement in the plot against the majority leader.

A report issued by Mr. Cuomo’s office last month reprimanded Mr. Spitzer’s communications director, Darren Dopp, and his former liaison to the state police, William Howard, for using state police to try to dig up damaging information about Mr. Bruno.

Mr. Silver said the conclusions drawn by the Albany County district attorney, David Soares, who is investigating whether the Spitzer administration committed any criminal misconduct, and the New York State Ethics Commission, which is looking into potential ethical violations, should be the final word.

If the governor’s office is cleared of further wrongdoing, the question of whether Mr. Spitzer was aware of his staff’s actions does not need to be answered, Mr. Silver said.

“That should be it. How much more do we need of this?” he said. “If the findings of the attorney general hold true with the district attorney of Albany … that lessens the need to know.”

A spokesman for Mr. Bruno, John McArdle, said he disagreed with the speaker’s logic.

“I’m shocked that he’s parroting the governor’s line and carrying his water,” he said. “It sounds like he doesn’t want to get to the truth.”