John Kowalik, former portfolio manager of CalPERS’ $800 million commodities program, was named executive director-commodity index sales and structuring at UBS Investment Bank, confirmed spokesman Kris Kagel.
Mr. Kowalik replaces Nelson Louie, who was named a managing director and global head of the commodities group in Credit Suisse’s asset management business. Credit Suisse’s Suzanne Fleming couldn’t be reached for information about Mr. Louie’s replacement.
Clark McKinley, spokesman at the $220.1 billion California Public Employees’ Retirement System, Sacramento, confirmed Mr. Kowalik’s departure and said a search for his replacement is likely to be conducted during the coming year.
