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Pension Funds

CalPERS names interim CIO

Eric Baggesen

Updated with correction

Eric Baggesen, managing investment director for asset allocation at CalPERS, was appointed interim chief investment officer.

Mr. Baggesen will fill the post being vacated by CIO Theodore Eliopoulos until the $347.1 billion pension plan's new CIO, Yu Ben Meng, joins in January. CEO Marcie Frost made the announcement at Tuesday's investment committee meeting.

This is Mr. Eliopoulos' last week at the California Public Employees' Retirement System, Sacramento, Henry Jones, investment committee chairman, said at the start of the meeting.

Mr. Meng's appointment was announced in September. Before leaving to join China's State Administration of Foreign Exchange in 2015 as deputy CIO, Mr. Meng had been CalPERS’ senior portfolio manager for asset allocation.