Kenneth Marzion today was named interim CEO of CalPERS. Mr. Marzion, assistant executive officer of the $248.2 billion California Public Employees Retirement Systems actuarial and employers services branch, will replace Fred Buenrostro when he retires June 30, and will serve as CEO until a permanent replacement is named, board President Robert Feckner said at an investment committee meeting. The board likely will hire an external search firm to find Mr. Buenrostros replacement, Mr. Feckner said.
The CalPERS board of administration on Thursday will discuss how to replace two other high-level vacancies. CIO Russell Read will leave June 30; Christianna Wood, senior investment officer of global equity, left in February to join Capital Z Asset Management.
Separately, the investment committee of the Sacramento-based fund renewed the contracts of high-yield managers PIMCO and Nomura Asset Management for one year each. PIMCO manages $212 million; Nomura runs $204 million.