Investing
California pensions investment chief to step down for family reasons
© Reuters. FILE PHOTO: Nicole Musicco Chief Investment Officer, CalPERS, speaks at the 2023 Milken Institute Global Conference in Beverly Hills, California, U.S., May 3, 2023. REUTERS/Mike Blake
NEW YORK (Reuters) – The Chief Investment Officer of the largest U.S. state pension manager, the California Public Employees Retirement System (CalPERS), will step down on Sept. 29, CalPERS said in a statement on Friday.
Nicole Musicco, who was the second woman in its history to have led the investment operations of the $463 billion fund, is leaving to “attend to the immediate needs of family in her native home of Toronto, Canada”, CalPERS said.
CalPERS said Musicco’s deputy Dan Bienvenue will serve as interim chief investment officer and it will soon start a global search for her replacement.
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