Yu Ben Meng was named chief investment officer at CalPERS, announced Henry Jones, chairman of the $360 billion pension fund's investment committee, at Monday's meeting.
"We are pleased to have him back. He has a deep understanding of our investment operations," Mr. Jones said. CEO Marcie Frost made the hiring decision.
Before leaving to join China's State Administration of Foreign Exchange in 2015 as deputy CIO, Mr. Meng worked at the California Public Employees' Retirement System, Sacramento, for seven years. CalPERS hired Mr. Meng in December 2008 as a portfolio manager in global fixed income, quantitative research/analysis. That position is now called investment manager. In October 2011, Mr. Meng was promoted to senior portfolio manager in asset allocation. That position is now called investment director.
"I'm just delighted for CalPERS. What an incredible selection. What an incredible leadership team with Ben Meng," said outgoing CIO Theodore Eliopoulos.
Mr. Eliopoulous is leaving as CIO at the end of this year for family reasons.