CalPERS Goes North For New CIO

Jan 23 2009 | 1:00am ET

The California Public Employees’ Retirement System has named Joseph Dear, currently executive director of the Washington State Investment Board, as its chief investment officer.

Dear will oversee more than 220 investment professionals and support staff and a diversified portfolio that includes stocks, fixed-income, private equity, real estate and inflation-linked assets at the nation’s largest public pension fund. He held a similar post in the Evergreen State, overseeing $67 billion and 39 funds. WSIB invests in similar asset classes to CalPERS and uses both passive and active management strategies.
“Mr. Dear has more than 20 years experience managing large governmental bodies, and in particular under his leadership over the last six years, Washington State Investment Board has had good results and been exceptionally well managed,” said Rob Feckner, president of the CalPERS board of administration.

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