CalPERS CEO Marcie Frost hopeful CIO will be chosen in first quarter

By Arleen Jacobius Source: Pensions & Investments CalPERS CEO Marcie Frost said she is optimistic that the $483.3 billion pension fund will select a new chief investment officer in the first quarter. The Chief Investment Officer Selection Subcommittee's first round of interviews with potential candidates were scheduled to begin Jan. 17. Frost made the comment at the California Public Employees' Retirement System's Jan. 17 stakeholders meeting. “I know I indicated that the first quarter is the best outcome (to [...]

2024-01-17T15:01:17-08:00January 17th, 2024|Categories: Corporate Governance|Tags: , , |

Don’t let ESG become ‘the next 3-letter bad word’ – CalPERS CEO

By Arleen Jacobius Source: Pensions & Investments ESG is about managing risks and spotting investment opportunities, and should not be allowed to become "the next three-letter bad word," CalPERS CEO Marcie Frost said at the pension fund's stakeholder forum on Wednesday. "When you break down ESG … it's around managing risks related to climate, managing risks related to poor human capital practices. It is about managing risks related to poor governance," Ms. Frost said. Read the full article

2023-01-19T15:58:01-08:00January 19th, 2023|Categories: ESG|Tags: , , |

CalPERS, CalSTRS need fresh skills to take on new risks, Betty Yee says

By Arleen Jacobius Source: Pensions & Investments Asset owners need a different set of tools to navigate their portfolios through the uncharted waters they find themselves in today, said Betty T. Yee, outgoing California state controller and member of the boards of CalPERS and CalSTRS. To get there, boards need more education related to these issues and risks including geopolitical and climate change, and to hire staff with different skill sets to augment the deep investment expertise plans already [...]

2022-12-19T10:12:16-08:00December 19th, 2022|Categories: Multiemployer Plans|Tags: , , , |

CalPERS CEO pushes back against politicization of ESG investing

By Arleen Jacobius Source: Pensions & Investments CalPERS CEO Marcie Frost decried the politicization of environmental, governance and social investing at Wednesday's board meeting and highlighted the benefits of the $443.2 billion pension plan's ESG approach. "In some cases, the (midterm election) campaign rhetoric not only dismissed the danger of climate change, it went so far as to mischaracterize a strategy we believe in strongly: examining the risk factors of the environment, of social inequality, and of good governance," [...]

2022-11-17T14:33:59-08:00November 17th, 2022|Categories: ESG|Tags: , , , |

Controller Yee: ‘More work’ ahead for CalPERS board

Even though CalPERS is taking steps toward fixing its governance problem, officials at the $411.5 billion pension plan say the road ahead is long. California Controller Betty T. Yee, who sits on the boards of both California Public Employees' Retirement System, Sacramento, and the second-largest U.S. public pension plan, the $262.5 billion California State Teachers' Retirement System, West Sacramento, is helping drive the changes. Her duties on both boards give Ms. Yee an unobstructed view of the culture and [...]

2020-10-06T09:46:02-07:00October 6th, 2020|Categories: Corporate Governance|Tags: , , |
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