California’s $240bn pension fund has hired former British Columbia Pension Corporation vice president Cheryl Eason for its newly created chief financial officer position.
Eason will oversee the financial and risk management operations for the pension giant, join the executive leadership team and provide advice to the CalPERS Board of Administration.
CalPERS CEO Anne Stausboll, “Our CFO will be the single point of coordination for financial and risk-related activities across our organization, and Cheryl is the perfect choice to lead this important task.
“Her background as a senior executive with extensive experience leading business planning, risk management and budgeting operations will ensure that CalPERS maintains a high level of transparency and internal controls in its financial operations.”
Eason has more than 25 years of experience in enterprise risk management and strategic and business planning in both public and private sectors, the pension fund said.
CalPERS last reported a one per cent return on investments for the 12 months ending June 30, falling short of its 1.7 per cent benchmark.
A slight gain in assets at the end of the fiscal year was down to improved performance in its real estate investments, despite continued volatility in world markets.
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