Daniel M. Szente today was named chief investment officer of the $175 billion California Public Employees Retirement System, Sacramento, effective July 1.
Mr. Szente is executive vice president and director of research for McGlinn Capital Management. Before joining McGlinn, Mr. Szente managed about $1.8 billion in in-house equities at the Howard Hughes Medical Institute. This is an exciting business. Im going back to where the action is, Mr. Szente said.
Pendleton James Associates assisted in the international search, prompted by the February departure of Sheryl K. Pressler.
Also, Guy F. Jaquier, CalPERS senior investment officer for real estate, was appointed executive vice president and chief investment officer at AMB Property Corp., effective June 20. He succeeds W. Blake Baird, who became president of AMB in January. CalPERS spokesman Brad Pacheco said the system probably will conduct a search to replace Mr. Jaquier. No timetable has been set.