Fiderion, with offices in Atlanta and New York, is an executive search firm backed by decades of experience in retaining human capital for the financial services industry. The search will be led by Steve Niss, Senior Managing Director, based in Westport, Connecticut.
They will conduct a search for the next CIO at CalPERS to manage its $200 billion fund. CalPERS search is expected to be complete in the next six to eight months.
"We are looking for exceptionally broad experience, strong management skills, outstanding investment leadership acumen and someone with a strong commitment to serving our 1.4 million public employees and retirees," said Fred Buenrostro, Chief Executive Officer for CalPERS.
CalPERS CIO is responsible for the day-to-day operations of a 180-member investment staff and a diversified investment portfolio that includes equities, fixed income, private equity, hedge funds and real estate. The CIO works closely with CalPERS Board of Administration to set investment strategy, including the fund's asset allocation, and has oversight of the fund's external asset managers.
The search will focus on individuals with the following desirable qualifications:
- At least 7 years broad experience and a demonstrated investment track record with various asset classes;
- Strong management experience and excellent interpersonal skills;
- In-depth knowledge of various investment products, theories, styles and asset classes, including private equity and hedge funds;
- An ability to embrace innovative investment ideas;
- Experience with consultants, external managers and actuaries;
- Experience and knowledge of the important inter-relationship between liabilities and assets;
- Ability to work in a team environment and the stature to work effectively within a complex, highly visible environment; and
- A commitment to CalPERS initiatives in investments and knowledge of and ability to embrace new technology.
Last month, CalPERS named Anne Stausboll as Interim Chief Investment Officer to run day-to-day operations until the selection of a new CIO.
CalPERS is the nation's largest public pension fund. The System provides retirement and health benefits to more than 1.4 million public employees and their families. For more information on CalPERS, visit www.calpers.ca.gov.