Debra Smith was named acting director of investment operations at CalSTRS, Chief Investment Officer Christopher J. Ailman said Thursday.
Ms. Smith, an investment officer at the California State Teachers' Retirement System, West Sacramento, will replace John Petzold, who on Wednesday was named to the new position of director of investment management and deputy CIO.
In a telephone interview, Mr. Ailman said there are two internal candidates to replace Mr. Petzold on a permanent basis, and CalSTRS also will be advertising for outside candidates as required by California law. Mr. Ailman would not name the internal candidates.
Mr. Ailman said the search to fill the position will take several months.
Mr. Petzold's position was created to free Mr. Ailman from administrative duties and give him more time to manage the $129.7 billion system's investment portfolio.
In addition to administrative duties, Mr. Petzold also will manage CalSTRS' absolute-returns asset class, Mr. Ailman said.
