US - Mark Anson (pictured) will join Hermes as CEO, having resigned as CIO for the California Public Employees' Retirement System (CalPERS).
Anson, who will start at the London-based institutional fund manager early next year, has seen the CalPERS fund grow by more than $69bn, from $127bn to $196bn, since assuming the role in December 2001.
“While it is a sad for me to leave CalPERS, I look forward to my new responsibilities at Hermes,” he said.
More than $8bn of excess return was added to the CalPERS fund’s coffers during Anson’s tenure. The fund has said this was in part due to his strategic investment decisions, which included the launch of hedge funds and enhanced indexing strategy investment programs.
Under Anson’s leadership, CalPERS became the first pension fund to pursue environmental investment initiatives aimed at achieving positive financial returns while fostering sustainable growth and sound environmental practices.
The CalPERS Board will discuss steps to replace Anson at their scheduled Board meetings in November. CalPERS is the nation’s largest public pension fund with assets totaling $195bn.
This week's Pensions Buzz respondents were mostly in agreement that 10 weeks is an appropriate length of time to conduct a full DB to DC transfer.
In this week's Pensions Buzz, we want to know if you think Guy Opperman will stay in post as pensions and financial inclusion minister under the new prime minister.
The City and County of Swansea Local Government Pension Scheme (LGPS) will swap around a quarter of its assets to a low-carbon fund by the end of the month, it has announced.