CalPERS Appoints Marlene Timberlake D'Adamo First DEI Officer

Marlene Timberlake D’Adamo

The California Public Employees’ Retirement System (CalPERS) has appointed Marlene Timberlake D’Adamo as its first chief diversity, equity, and inclusion (DEI) officer, or CDEIO.

Since June 2020, Timberlake D’Adamo has been serving at the $466 billion pension fund both as the interim chief diversity, equity, and inclusion officer and the chief compliance officer, CalPERS CEO Marcie Frost said. CalPERS has started a search for a new chief compliance officer.

“Marlene is a seasoned executive who is passionate about this work and thoughtful in her approach to developing our DEI framework presented to the CalPERS board in March,” Frost said in a statement. “Under her leadership, CalPERS will strengthen its commitment to DEI.”

The pension fund officer is tasked with creating a culture of equality and inclusiveness across the firm, as well as within the investment team, where she will work with the environmental, social, and governance (ESG) investment team to identify how DEI issues impact the CalPERS portfolio.

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She will guide a DEI framework that outlines those goals and an employee diversity advisory council. Health plans will also be reviewed using data for race, ethnicity, and gender identity.

As chief compliance officer at CalPERS, Timberlake D’Adamo was responsible for the enterprise compliance division for roughly the past five years. Previously, the pension fund leader worked in portfolio and risk management at PNC Bank in Philadelphia, where she was a managing director and senior vice president. She also worked at Glenmede Investment Management, as chief compliance officer, and Glenmede Trust Company, as vice president. She has 25 years of experience in the industry.

She holds a bachelor’s degree from Seton Hall University, as well as a juris doctor degree from the Beasley School of Law at Temple University.

Her appointment comes as CalPERS and the California State Teachers’ Retirement System (CalSTRS) hosted a joint diversity forum this week.