Pension Funds

San Diego City Employees names new CEO

Gregg Rademacher was named the new CEO at the San Diego City Employees' Retirement System, replacing Mark Hovey who retired earlier this month , according to a notice on the $8.1 billion pension fund's website.

Mr. Rademacher had been CEO at the $52 billion Los Angeles County Employees Retirement Association, Pasadena, Calif.; he left Oct. 1. LACERA launched an RFP for an executive search firm in December.

"Mr. Rademacher emerged from an extremely strong field of candidates as the board's choice to be the next CEO," said Valentine Hoy, SDCERS board president, in a written statement. "Mark Hovey would be a tough act for anyone to follow, but Gregg will be an experienced hand, and we expect him to provide the integrity, leadership and mentoring for which he is known throughout the state. We feel very fortunate to have him in San Diego."