Arnold B. Phillips was promoted to managing investment director of global fixed income at CalPERS, a news release from the $370.2 billion pension plan said.
Mr. Phillips has been the acting managing investment director for the California Public Employees' Retirement System's $84 billion portfolio since the Sacramento-based pension plan's previous fixed-income head retired in May 2018.
"In more than a year as acting MID, Arnie has been a steady hand, leading the team that brought in the highest return of any individual program this past fiscal year," CalPERS CIO Yu Ben Meng said in the release. "I'm pleased to make him a permanent addition to the investment office's senior leadership team."
