The California Public Employees’ Retirement System (CalPERS) announced the appointment of Russell G. Fong as its Acting Chief Financial Officer (CFO), effective April 4.
In this newly-established position Fong will be responsible for managing the financial processes for CalPERS, including budgeting, accounting, cash management, and financial planning and analysis. He will also oversee CalPERS Enterprise Risk Management projects, according to the announcement.
Fong is currently the Interim Assistant Executive Officer of the CalPERS Administrative Services Branch. He manages the Fiscal Services, Human Resources, Operation Support and Strategic Management Services Divisions. He joined CalPERS in 2005 as Chief of Fiscal Services, where he oversaw the System’s accounting and budgeting functions.
“We are establishing this position at CalPERS to ensure we maintain a high level of transparency and internal control, and Russell Fong’s background and experience make him an excellent fit to start this new function,” said CalPERS Chief Executive Officer Anne Stausboll. “The CFO will be the single point of coordination for financial and risk-related activities across our organization.”
Prior to joining CalPERS, Fong served at the California Health and Human Services Agency Data Center as Chief Consolidation Administrator; Chief Financial Officer; and Deputy Director of the Administrative Services Division. Fong also managed the Information Technology Training Center for the Health and Human Services Agency Data Center. In addition to his State service, Fong worked as Vice President of California Bank & Trust. He also worked as a certified Financial Consultant with First Affiliated Securities in Los Angeles.
CalPERS, the nation’s largest public pension fund with approximately $230 billion in assets, administers retirement benefits for more than 1.6 million active and retired State, public school and local public employees and their families. More CalPERS information is available at www.calpers.ca.gov.