SBCERA makes Pierce CIO role permanent

US - The $6bn San Bernardino County Employees' Retirement Association (SBCERA) has selected Don Pierce as its new chief investment officer (CIO).

Pierce (pictured) was appointed SBCERA investment officer in 2001 and interim CIO in October last year. In his role, he manages the investment division of the $6bn public pension fund. He works directly with the board and chief executive officer Norm Ruggles in developing policy and investment goals, implementing investment objectives and the selection of investment managers.

He also introduced international private equity, emerging market debt and volatility strategies and developed an actuarial forecasting model and a rebalancing methodology for the fund.

Ruggles said: "The SBCERA board and I are very pleased to announce the appointment of Don Pierce as our CIO. He has done an outstanding job the past year as our interim CIO and fully understands all aspects of our investment program."

Pierce added: "I feel honoured to have been selected as the CIO for SBCERA by the board of retirement, and I look forward to working together with our board, staff, and consultant on implementing the investment strategy we've embarked upon."