COVID-19 derailed the Los Angeles City Employees' Retirement System's plans to again take an intern from the Girls Who Invest program, but officials at the $19.4 billion plan found another way to participate.
On Aug. 26, CIO Rodney June and 10 investment officers joined a virtual roundtable with eight Girls Who Invest summer interns working for Pacific Investment Management Co. LLC, Mr. June said. LACERS officials described their own academic backgrounds, professional credentials, career paths and advantages and challenges of working for a public pension plan, Mr. June said.
Mr. June told the board at its Aug. 25 meeting that he hoped to encourage qualified women to consider careers in the public pension fund world.
Over the past two summers, LACERS has taken interns from Girls Who Invest. The non-profit focuses on increasing the number of women in money management; it was started by Seema R. Hingorani, former CIO of the $211 billion New York City Retirement Systems and now a managing director at Morgan Stanley Investment Management, leading diversity, client development and client relationships.
Some 80% of the Girls Who Invest interns who have graduated college are now working in the money management industry.
While the pandemic made it impossible to accept a summer intern this year, LACERS officials intend to take an intern in 2021, Mr. June said.
