Rose case settled
Richard N. Rose, former CIO of the San Diego County Employees' Retirement Association paid court costs of $50 and will complete a shoplifting "diversion" program in a plea agreement with the city of Scottsdale, Ariz., according to a court clerk.
If Mr. Rose completes the program, the shoplifting charges will be dismissed, according to the agreement, the clerk said.
Mr. Rose was charged with shoplifting $900 worth of items from a Scottsdale hotel gift shop in October. He pleaded not guilty at that time.
Mr. Rose declined comment.
CalPERS questions Pacific
The California Public Employees' Retirement System is asking alternative investment consultant Pacific Corporate Group to respond to questions about three employee departures and corporate ownership changes at Pacific Corporate. The board wants to know how the changes are likely to affect the $136 billion system's investments.
Also, a CalPERS committee recommended a new selection process for defined contribution plan administration. CalPERS has been acquiring record-keeping and customer service on a plan-by-plan basis. Under the new process, CalPERS would establish a formal alliance with a firm to provide the services for all of the system's defined contribution plans.
DCRB taps Morales
Jorge Morales was named executive director of the $4.9 billion District of Columbia Retirement Board. He had been acting executive director.
Rathjens CIO at PanAgora
PanAgora Asset Management appointed Peter Rathjens chief investment officer, replacing Paul Samuelson, who is leaving to start his own firm.
Mr. Rathjens will continue as director of global investments and will head the firm's new active global equity team, which will manage active global and U.S. equity accounts.
During the reorganization, PanAgora also created a structured investment strategies group, which will be run by William Zink, who is returning to PanAgora from State Street Global Advisors.
Actuarial review set
Trustees for the $4.4 billion Chicago Municipal Employees' Annuity & Benefit Fund plan to hire an outsider to review the work of its actuary, Donald F. Campbell later this year.
The idea resulted from the actuarial errors recently discovered by the Los Angeles County Employees Retirement Association.