and ADDING MULTIMEDIA CalPERS Names Russell Read as New Chief Investment Officer.SACRAMENTO, Calif. -- Contact information should read: Brad Pacheco or Pat Macht, 916-795-3991 (sted Brad Pacheco or Pat Macht, 916-326-3991). The corrected release reads: CALPERS NAMES RUSSELL READ AS NEW CHIEF INVESTMENT OFFICER The California Public Employees' Retirement System (CalPERS) announced today that Russell Read, former Deputy Chief Investment Officer for Deutsche Asset Management, has been named to the post of Chief Investment Officer (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. ) for the $208 billion public pension fund. Read, 42, is a leader in the investment industry. He has more than 20 years investment management experience, including strong expertise in global markets, asset/liability modeling, 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. , risk management, and experience across all asset classes. He will oversee a 180-member investment staff and a diversified portfolio that includes equities, fixed income, alternative investments, and real estate. The CIO works closely with the Board of Administration in setting investment strategy, establishing the fund's asset allocation and overseeing the fund's external managers. He will begin his position on June 1. "Russell is a highly respected and seasoned investment leader with a strong reputation for investment vision and innovation," said Rob Feckner, President of CalPERS Board of Administration. "He brings a wealth of investment management experience that will help us achieve our investment goals for our 1.4 million public employees, our employers and California taxpayers." Read, in his post as Deputy Chief Investment Officer for New York-based Deutsche Asset Management, had responsibility of more than $250 billion for retail and institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. in equity, fixed income and commodity-based investment products. He was also Chairman of the Deutsche's Americas Investment Committee and principal representative to the firm's retail mutual fund board of trustees board of trustees Politics The posse of thugs who oversee an institution's administration. See Board of directors. . Read previously served as Global Head of Quantitative Investing and Research at Zurich Scudder and has held senior investment positions with the OppenhiemerFunds, CAN Insurance and Prudential Insurance. He also held academic positions at the University of Maine "UMO" redirects here, but this abbreviation is also used informally to mean the Mozilla Add-ons website, formerly Mozilla Update Should not be confused with Université du Maine, in Le Mans, France The University of Maine and Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. teaching courses in financial risk management and statistical methodology sequence. Read holds a doctorate in political economy, a master's in economics, and a master's in political science, all from Stanford University. He also received a master's in business administration in finance and international business and a bachelor's in economic statistics, both from the University of Chicago. He is a Chartered Financial Analyst Chartered Financial Analyst (CFA) An experienced financial analyst who has passed examinations in economics, financial accounting, portfolio management, security analysis, and standards of conduct given by the Institute of Chartered Financial Analysts. , Chartered Financial Consultant and a Chartered Life Underwriter underwriter n. a company or person which/who underwrites an insurance policy, issue of corporate securities, business, or project. (See: underwrite) UNDERWRITER, insurances. One who signs a policy of insurance, by which he becomes an insurer. . "We are fortunate to have Russell to lead our investment team," said Charles P. Valdes, Chair of CalPERS Investment Committee. "I'm confident that he will be able to develop innovative and new successful investment initiatives that will help us add value to our fund." Read is the founder of the Institute for Investment Renewable Resources Noun 1. renewable resource - any natural resource (as wood or solar energy) that can be replenished naturally with the passage of time natural resource, natural resources - resources (actual and potential) supplied by nature at the University of Maine and is head of the finance committee of the Fractional fractional size expressed as a relative part of a unit. fractional catabolic rate the percentage of an available pool of body component, e.g. protein, iron, which is replaced, transferred or lost per unit of time. Development Center that is dedicated to the transformation of wood into energy and materials currently provided by crude oil. Read replaces Mark Anson, who left CalPERS in January 2006 to become the Chief Executive Officer of Hermes. The search for CalPERS new CIO was led by Steve Niss, Senior Managing Director of Fiderion Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Group. CalPERS investments include more than $132 billion in U.S. and international stock; $53 billion in U.S. and international fixed income; $9 billion in real estate; nearly $11 billion in privately held investments; and more than $3 billion in cash. CalPERS provides retirement and health benefits to 1.4 million state and local government employees and their families. For more information on CalPERS, visit the System's web site at www.calpers.ca.gov. |
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