The California Public Employees’ Retirement System’s (CalPERS) Board of Administration announced today that is has appointed Anne Stausboll as the pension fund’s new Chief Executive Officer (CEO). Stausboll, 52, is currently the Interim Chief Investment Officer (CIO) for CalPERS.
CalPERS notes that she will become the first female CEO to lead the pension fund in its 77-year history. She replaces Ken Marzion who has been serving as the Interim CEO since the retirement of Fred Buenrostro from State service in June. She will begin her position January 12, 2009.
In her new position, she will oversee the System’s operations which includes 2,300 employees, a budget of more than $332 million, and programs spanning investments, health and retirement benefits administration, actuarial and employer services, supplemental retirement programs, a long-term care program, government affairs, stakeholder relations, and numerous support functions, according to a press release.
Stausboll was selected from a field of candidates in a recruitment run by Cooperative Personnel Services based in Sacramento, California. “Anne is a stellar public servant and natural leader for our fund,” said Rob Feckner, President of the CalPERS Board of Administration. “Her leadership and government policy experience in all facets of her career will serve our members, employers, and staff very well.”
Stausboll re-joined CalPERS four years ago as the System’s Chief Investment Operating Officer working with CalPERS senior investment officers to implement investment strategies for the System’s real estate, alternative investment and public market portfolios, including the development of portfolio trade and management systems. She also has oversight of the search process for external managers, advisors and pension consultants, coordinated internal investment policy, and represented CalPERS on investment-related legislation at both the State and federal level.
The CalPERS Board tapped her in April as the System’s Interim CIO following the departure of Russell Read, former CIO (see Former CalPERS CIO Launches New Venture ).
“Anne has done a tremendous job guiding our Investment Office during some very difficult economic conditions,” added Feckner. “She has agreed to continue to serve in this capacity until January 12.”
Stausboll served in CalPERS’ Legal Office for six years between 1994 and 1999, including two years as Deputy General Counsel. She left in 1999 to become General Counsel for California State Treasurer Phil Angelides, and was later appointed Chief Deputy Treasurer in July 2000. She was responsible for overseeing the policies, programs, and operations of the State Treasurer’s Office, which controls the public investment and cash management functions of the State of California.
CalPERS is the nation’s largest public pension fund with assets totaling $182 billion, and provides retirement and health benefits to more than 1.6 million State and local public employees and their families.