US - The California Public Employees' Retirement System (CalPERS) has appointed Farouki A. Majeed as its new senior investment officer for asset allocation management.
Majeed will be responsible for asset allocation implementation, the pension fund’s asset allocation team and the CalPERS board’s asset allocation workshop, which is scheduled for November 2007.
Russell Read, chief investment officer at CalPERS, said: “Asset allocation is at the heart of our success as a long-term investor with a diverse portfolio.”
He added that Majeed was highly regarded for his wide global investment experience and had a keen interest in asset allocation.
Prior to his appointment, Majeed was the inaugural chief investment officer of the Abu Dhabi Retirement Pensions and Benefits fund of the United Arab Emirates, where he served since 2004.
Among his previous roles, he was also chief investment officer for the Orange County Employees Retirement System.
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