Andrew Junkin will lead the state pension system’s investment operations after 15 years at the consulting firm.
The state retirement system chooses 16-year veteran Dan Bienvenue, who has overseen global equity.
Nicolai Tangen, a hedge fund manager based in London, will take over the nearly $1 trillion plan.
Fund will invest 80% in securities that meet its environmental criteria and contribute to the World Wildlife Fund.
Large money managers including J.P. Morgan, Fidelity, and Allianz have lost their relationships with the biggest US pension plan as part of a massive restructuring of CalPERS’s equity program.
That share of the pie gets even smaller—to 3%—when more stringent definitions of ‘diversity’ are applied.