California Teachers' Pension Names New Chief Investment Officer.Business Editors & Investment Writers SACRAMENTO, Calif.--(BUSINESS WIRE)--Sept. 19, 2000 Christopher J. Ailman, chief investment officer at the Washington State Investment Board, has been named chief investment officer of the California State Teachers' Retirement System. Ailman will manage the $115.8 billion portfolio starting Oct. 10. A 20-year veteran in investment management, Ailman has been WSIB's investment chief for four years. Before going to Washington, Ailman spent eleven years at the Sacramento County Employees' Retirement System where he served as CIO CIO: see American Federation of Labor and Congress of Industrial Organizations. (Chief Information Officer) The executive officer in charge of information processing in an organization. of the pension fund for the county. At WSIB WSIB Workplace Safety and Insurance Board WSIB Washington State Investment Board , Ailman managed a $57 billion pool of assets held in 28 trust funds. He led WSIB to a greater diversification of assets and a reduction in use of external managers. Under Ailman's leadership, WSIB reached $6 billion of investments in private equity, the third largest holding in the world. "Chris brings the perfect mix of experience, management skills and demonstrated track record to continue our excellent portfolio performance," said Emma Zink, chairperson, Teachers' Retirement Board. "Recognizing there's always room for improvement and innovation, we look forward to the impact his ideas and energy will have on the fund." Ailman received a Bachelor of Arts in Business Economics from the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). Santa Barbara Santa Barbara (săn'tə bär`brə, –bərə), city (1990 pop. 85,571), seat of Santa Barbara co., S Calif., on the Pacific Ocean; inc. 1850. in 1980. He received his Certified Financial Planner Certified Financial Planner (CFP) A person who has passed examinations accredited by the Certified Financial Planner Board of Standards, showing that the person is able to manage a client's banking, estate, insurance, investment, and tax affairs. from the University of Southern California The U.S. News & World Report ranked USC 27th among all universities in the United States in its 2008 ranking of "America's Best Colleges", also designating it as one of the "most selective universities" for admitting 8,634 of the almost 34,000 who applied for freshman admission in 1984. Prior to his positions in the public sector, Ailman worked five years in the private sector as a personal investment consultant and financial planner Financial Planner A qualified investment professional who assists individuals and corporations meet their long-term financial objectives by analyzing the client's status and setting a program to achieve these goals. . As CIO, Ailman will work with the Teachers' Retirement Board to develop strategies for overall 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. , public and private equity, fixed income and real estate investments. He will direct a staff of about 50 persons and manage a diversified portfolio with both internal and external management of assets. CalSTRS, the nation's third largest pension fund, recently announced a 12.7 percent return for the year, marking the sixth straight year for double-digit returns. The selection of Ailman was the result of a national search by Pendleton James Associates begun in April following the resignation of Patrick Mitchell. In July Mitchell left for the equity management field after three years as CIO. CalSTRS serves more than 472,000 current and former public school educators and provides retirement benefits to more than 161,400 retired teachers and their families. |
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