Steve Davis was named chief investment officer of the $8 billion Sacramento County Employees’ Retirement System, said CEO Richard Stensrud in an e-mail.
Mr. Davis has been the deputy CIO at SCERS since July 2012. He originally joined the pension fund as an investment officer in March 2010. He is replacing Scott Chan, who left in January 2015 to become senior managing director of public equities in the University of California's investment office. Mr. Stensrud said the pension fund will conduct a search for new deputy CIO.
“Steve has made important contributions to the evolution of SCERS’ investment program and the success we have achieved,” Mr. Stensrud said in a news release. “He has been instrumental in providing not only continuity to the investment program, but has also been an ‘idea generator’ and key driver in developing measures to improve the program. His promotion to deputy CIO and now CIO is a reflection of this.”