CalPERS Seeks a New CIO

(May 13, 2014) — The California Public Employees’ Retirement System (CalPERS) has begun a search for a new CIO to manage its $285 billion in assets and a 400-plus person investment team.

According to CalPERS, the CIO will be responsible for “developing prudent, forward-thinking investment strategies in accordance with CalPERS fiduciary responsibilities, policies, and corporate governance standards.”

The largest US public pension is looking for a “strategic investment thinker” with a firm grasp of asset allocation and a “strong commitment to prudent risk management” to lead a dynamic investment staff. The new chief will manage a diversified global portfolio with assets in public and private equity, fixed income, real estate, and inflation-linked assets, CalPERS said.

The search has been launched just over two months after the death of former CIO Joe Dear, aged 62, in February. He had served as CIO since 2009. Ted Eliopoulos had been serving as acting CIO.

Recruitment firm Korn/Ferry International has been put in charge to lead a global search for the new head of the Sacramento-based fund.

A full job description of the CIO position will be available on the CalPERS website on May 27, 2014.

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