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L.A. County Employees fund picks CIO

David Kushner was named chief investment officer of the Los Angeles County Employees' Retirement Association, confirmed Gregg Rademacher, CEO of the $35 billion fund.

Mr. Kushner was deputy director of investments at the $15.3 billion San Francisco City & County Employees' Retirement System.

Mr. Kushner will join LACERA in mid-November, Mr. Rademacher said in a telephone interview. John McClelland, who has served as interim CIO since Lisa Mazzocco left in March to become CIO of the University of Southern California's $2.9 billion endowment, Los Angeles, will return to his position as principal investment officer, real estate.

Executive search firm Russell Reynolds Associates assisted, Mr. Rademacher said.

Al Casciato, president of the San Francisco plan's board, said in a telephone interview that Mr. Kushner will remain at the fund through Oct. 28. The system soon will begin a search for a replacement, Mr. Casciato said, adding potential applicants already have contacted him about the position. The fund will name an acting CIO soon, he said.