Los Angeles Fire & Police Pension Plan picks new general manager

Ray Joseph was hired Thursday as general manager of the Los Angeles Fire & Police Pension Plan in a 5-4 vote by the board in closed session.

Mr. Joseph had been principal deputy trustee at the Interior Department's Office of the Special Trustee for American Indians from January to December 2011, where he oversaw a roughly $5 billion, trust, according to board member Wayne Moore. No other information about Mr. Joseph could be learned by press time.

Los Angeles Mayor Antonio R. Villaraigosa had twice rejected board's selection of Acting General Manager William S. Raggio as permanent general manager. The latest was in a March 26 letter to the board; Mr. Villaraigosa did not give the reason for his veto.

Mr. Raggio has been acting general manager of the $15.7 billion pension fund since Michael A. Perez retired in May.

At Thursday's meeting, the board considered three finalists: Mr. Joseph, Mr. Raggio and Solange Brooks, portfolio manager at CalSTRS, according to George V. Aliano, an elected member of the board.