Tom Lopez, longstanding CIO of the $27 billion of the Los Angeles Fire & Police Pensions, is retiring sometime next year, General Manager Ray Ciranna said in an email.
Mr. Lopez has been CIO since 1980. During his tenure the pension plan grew from $400 million in assets with four managers investing in stocks and bonds to 40 managers investing in more than a dozen asset classes.
"The LAFPP commissioners wholeheartedly thank Tom Lopez for his years of service. His steady hand and wise advice are a pillar to the success of this fund," said board President Brian Pendleton in a written statement.
LAFPP has hired Korn Ferry to search for a new CIO, with selection expected in late March or early April.