Strategist Exits BP Pension | Chief Investment Officer

Keith Shepherd BP Keith ShepherdKeith Shepherd, investment strategy executive at BP’s UK pension, has left the group, according a person familiar with the matter.

Shepherd is the second senior staffer to leave the $31.8 billion pension, following the departure of Head of Investments John Bearman in June.

Shepherd’s LinkedIn profile confirms that he left his role in July. Previously the CIO at Railpen, he was at BP for less than three years. He has also worked at the Wellcome Trust and Lothian Pension Fund, a Scottish local authority fund.

A spokesperson for BP declined to comment on staffing issues.

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BP America lost its longtime CIO Greg Williamson last year. The former prop trader quit in late March 2015 to lead the American Red Cross’ $5 billion investment portfolio.

Deputy CIO Mark Thompson moved into Williamson’s role at the Chicago pension investment office.

Related:BP Investment Chief Quits

The California Public Employees’ Retirement System (CalPERS) is on the hunt for a managing director to lead investments in opportunistic credit.

The position, part of the $306.3 billion pension fund’s executive investment team, oversees enhanced cash and high-yield credit strategies, as well as contributing to CalPERS’ overall risk management, investment performance, asset allocation, and talent management.

The job listing, posted this month, calls for applicants able to “lead and manage a major functional investment area” and “make and influence decisions that have a significant impact on the fund.”

Primary job responsibilities will include developing and implementing opportunistic credit investment strategies and policies, managing staff and consultants, and ensuring credit and enhanced cash investments earn the “highest rate of return at prudent levels of risk.”

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The managing investment director would also coordinate with the leaders of CalPERS’ other investment programs to ensure “consistency and high quality across asset classes, portfolios, and investment strategies.”

Candidates must be able to work “effectively” with the CalPERS Board of Administration, consultants, asset managers, and investment partners, as well as negotiate agreements “consistent with CalPERS’ interests.”

The Sacramento, California-based position will pay between $262,000 and $411,600 annually. Applications will be accepted until September 9.