
Calpers chief executive follows his CIO out of office
Buenrostro announced his departure yesterday in the wake of media reports that the Calpers board disagreed with the aggressive investment strategy that he and Read had put in place. Calpers, based in Sacramento, had moved into foreign equity, private equity and alternative investments, and infrastructure investment, and the board reportedly wanted to ensure that only union labour was employed on Calpers-funded projects.
No successor has yet been named for Buenrostro, who has been CEO since December 2002, though the scheme's president, Rob Feckner, said that Buenrostro "has championed the need for the board to have a robust succession management plan". He added: "Media reports that raise a spectre of controversy between him and the board are exaggerated."
Read announced his resignation on April 23. He intends to pursue a career in environmental investment. After he leaves on June 30, he will be temporarily replaced by the chief investment operating officer, Anne Stausboll.
In January, the scheme's senior investment officer for global equity, Christianna Wood, resigned to join the New York hedge fund manager Capital Z Asset Management. No successor has yet been named.
See also: Real growth
Calpers increases hedge fund exposure
Calpers proposes BRIC investments
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on People
People: Finma CEO quits, Citi’s dealmaking promotion, and more
Latest job changes across the industry
People: Paco packs up at Citi, Credit Suisse exits continue, and more
Latest job changes across the industry
People: Wipf hands ARRC reins to Phelan, Tyce heads to Nomura, and more
Latest job changes across the industry
People: Barclays’ equity hires, CA’s CVA head departs, and more
Latest job changes across the industry
Asia moves: Senior hires at BNP Paribas, BNY Mellon and more
Latest job news from across the industry
Barclays retools inflation desk with two senior hires
UK bank raids Deutsche Bank and JP Morgan for new regional heads
Asia moves: Senior hires at Nomura, HKEX and more
Latest job news from across the industry
Asia moves: Senior hires at Citi, Nomura and more
Latest job news from across the industry