Deals and People May 25, 2000

CalPERS Names Daniel Szente New CIO

May 25, 2000 (PLANSPONSOR.com) - CalPERS Thursday announced that Daniel Szente will become its new Chief Investment Officer, replacing Sheryl Pressler, who left for the private sector in January.

Reported by

Szente, for his part, makes the opposite switch, coming to the California Public Employees’ Retirement System from Pennsylvania-based McGlinn Capital Management , where he was Executive Vice President and Director of Research.

Szente, 52, has more than 16 years’ investment policy and management experience in the public sector, serving as Assistant Director of Investments of the State Teachers Retirement System of Ohio .

At CalPERS, he will be responsible for managing the nation’s largest public pension fund with assets totaling nearly $175 billion. He will oversee a 100-member investment staff and a diversified portfolio that includes equities, fixed income, alternative investments, and real estate.

Szente will assume his new position on July 1.

He holds a Masters in Business Administration from Ohio State University. After completing his MBA, Szente joined Ohio STRS as an equity analyst. He was promoted to the position of Director of Equity Research and then Assistant Director of Investments, reporting to the CIO. Szente left Ohio STRS in 1995 to manage the Howard Hughes Medical Institute’s equity portfolio, and in 1998, moved over to McGlinn Capital Management.

Of further interest:

Profile of Daniel Szente, when he was at the State Teachers Retirement System of Ohio and bucking the investment outsourcing trend.