CalPERS hires new chief operating investment officer

Elisabeth Bourqui will join the California Public Employees' Retirement System as chief operating investment officer on May 14, said Megan White, spokeswoman for the $349 billion Sacramento-based pension plan, in an email.

Ms. Bourqui will replace Wylie Tollette, who left CalPERS in December to rejoin Franklin Templeton (BEN) Investments (BEN) as head of multiasset client investment solutions.

A member of the investment office senior management team, Ms. Bourqi will be responsible for business and operations, including matters related to the investment policy, investment compliance and operational risk.

She currently is the head of pension assets and liabilities management at Zurich-based technology company ABB Group. ABB Group executives could not be reached by press time seeking information on Ms. Bourqui's replacement.