CalPERS Names Denise Arend Division Chief for Fund Investment Operations.SACRAMENTO Sacramento, city, United States Sacramento (săkrəmĕn`tō), city (1990 pop. 369,365), state capital and seat of Sacramento co., central Calif. , Calif.--(BUSINESS WIRE)--June 10, 1999-- The California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Public Employees' Retirement System (CalPERS) today announced it has appointed Denise M. Arend to the position of Divisions Chief, serving as the administrative officer providing support to the System's $150 billion investment operations. Arend will be responsible for a variety of duties vital to the administration of CalPERS investment programs, including the management of investment contracts, technology projects and back office systems used to manage the Fund's investments. She will also monitor and report on investment transactions, the Fund's performance and asset allocation Asset Allocation The process of dividing a portfolio among major asset categories such as bonds, stocks or cash. The purpose of asset allocation is to reduce risk by diversifying the portfolio. , and provide oversight
Oversight may refer to:
She will report to Robert Aguallo, Assistant Executive Officer for CalPERS Investment Operations. "We're fortunate to gain the talent and expertise of Denise," said Aguallo. "Her business and project management experience will serve us well in the administration of our investment programs." Arend joins CalPERS from the California Trade and Commerce Agency, where she served as Director of the Office of Small Business since 1995. In her position, she served as the Small Business Advocate and directed a staff of 30 that provided financial and management assistance to small businesses. Her many successes included an increase of over 400 percent in the number of small businesses benefiting from guarantee-backed bank loans, and a 35 percent increase in federal and state funding for the 30 small business development centers operating in California. Arend worked at Price Waterhouse from 1986 to 1990 and has operated her own consulting business focusing on tax-exempt bond Tax-exempt bond A bond usually issued by municipal, county, or state governments whose interest payments are not subject to federal and, in some cases, state and local income tax. tax-exempt bond See municipal bond. financing, tax credit programs and small-issue bond small-issue bond A bond that is part of a small-sized municipal bond issue for private purposes such that interest on the bond qualifies for federal tax exemption. financing for small businesses. She also held legislative and fiscal management roles for various state agencies from 1979 to 1986. Arend holds a Masters in Business Administration degree and a Bachelor of Arts degree in Psychology from the California State University, Sacramento California State University, Sacramento, more commonly referred to as Sacramento State or Sac State, is a public university located in the city of Sacramento, California, USA. It is part of the California State University system. . CalPERS is the nation's largest public pension fund. The System provides retirement and health benefits to more than 1 million state and local public employees and their families. For further information on CalPERS, please visit the System's Web site at www.calpers.ca.gov. |
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