Pensions
LACERS Launches Search for Next CIO
The candidate will succeed Rodney June, who retired in July, as investment chief of the $28 billion pension.
Reported by Matt Toledo
The Los Angeles County Employees’ Retirement System is searching for a new CIO in partnership with executive recruitment firm Korn Ferry, according to a job posting from the system.
The candidate will succeed Rodney June, who served as CIO of the $28 billion pension system for 14 years. The system provides retirement benefits for Los Angeles city employees. June retired in July. He previously spent 17 years at LACERS between 1990 and 2008, before joining the Hawaii Employees’ Retirement System as CIO in 2008.
The fund posted 14.53% return for the year ended June 30. It serves more than 27,000 active members and 23,000 retirees and beneficiaries, providing both retirement and retiree healthcare benefits.
LACERS, in an October posting for the job, said it is seeking a candidate with experience in directing investments for a pension fund, endowment or foundation, or other investment organization with $10 billion in assets or more. LACERS is seeking eight years of experience in such a role for candidates that are CFA charter holders, 10 for those with a master’s degree, or 12 for those with a bachelor’s degree.
Responsibilities of the role, according to the posting, include:
- Providing executive leadership and direction to the investment division and professional staff in managing LACERS’ $28 billion investment portfolio;
- Leading the continuous re-evaluation of policies, processes, and standards to incorporate evolving industry best practices and modern performance metrics;
- Formulating and implementing long-term investment philosophies, strategies, and asset allocation recommendations aligned with LACERS’ fiduciary goals; and
- Overseeing the delivery of high-performing investment programs across diverse asset classes, including equities, private markets, and hedge funds.