Janine Guillot is stepping down as chief operating investment officer of the $258.3 billion California Public Employees' Retirement System's investment team, Ms. Guillot said Monday at CalPERS' investment committee meeting.
Ms. Guillot said in an interview she “wanted to take a break” and would be reassessing her options after the summer is over. Ms. Guillot is responsible for implementing the strategies for CalPERS' public markets, real estate and alternative investment strategies. She also oversees CalPERS' corporate governance program and its affiliate investment programs.
Brad Pacheco, a CalPERS spokesman, said the retirement system is looking at both internal and external candidates to fill Ms. Guillot's position.
Ms. Guillot joined CalPERS in 2010 from Barclays Global Investors, where she served as chief operating officer and head of the firm's $450 billion global fixed-income business. Her departure followed the acquisition of BGI by BlackRock in 2009.
Ms. Guillot is expected to leave CalPERS after the investment committee's July off-site meeting, where she is expected to play a major role. Efforts to put in place investment beliefs for CalPERS are to be detailed at that off-site meeting, and Ms. Guillot is in charge of those efforts. Ms. Guillot is overseeing an effort to create CalPERS' investment beliefs; the committee plans to discuss those efforts at the July meeting.