Herb Meiberger has an extraordinary double role at the San Francisco City & County Employees' Retirement System. He is a securities analyst in the $12 billion pension fund's fixed-income area, and he also has just been elected to a one-year term as president of the fund's board.
"My analyst is my boss' boss' boss," said Richard Piket, senior investment officer, fixed-income. Mr. Piket reports to Chief Investment Officer Carolyn Hamilton, who in turn reports to Executive Director Clare Murphy, who reports directly to the board.
Mr. Meiberger, now in his second five-year term as a participant representative on the board, said he never has had to recuse himself but has stepped away voluntarily from certain areas.
In particular, he has avoided performance appraisals and pay issues affecting his superiors on the staff.
When asked whether he has to oversee himself, Mr. Meiberger replied: "Dick does a good job of it."
