Key Takeaways
- • The Los Angeles County Employees' Retirement System (LACERS), a $28 billion pension system, has launched a search for a new Chief Investment Officer with executive recruiter Korn Ferry, according to a job posting from the system.
- • The position succeeds Rodney June, who served as CIO for 14 years and retired in July.
- • LACERS reported a 14.53% return for the fiscal year ended June 30.
- • The role requires eight years of investment leadership experience for CFA charterholders, 10 years for master's degree holders, or 12 years for bachelor's degree holders, at an organization with $10 billion or more in assets.
Summary
The Los Angeles County Employees' Retirement System is searching for a new Chief Investment Officer in partnership with executive recruitment firm Korn Ferry, according to a job posting from the system. The pension system, which manages $28 billion and provides retirement benefits for Los Angeles city employees, is replacing Rodney June, who served as CIO for 14 years and retired in July.
June previously spent 17 years at LACERS between 1990 and 2008 before joining the Hawaii Employees' Retirement System as CIO in 2008. His departure leaves a leadership vacancy at a fund that reported a 14.53% return for the year ended June 30.
The fund serves more than 27,000 active members and 23,000 retirees and beneficiaries, providing both retirement and retiree healthcare benefits. The October job posting outlines experience requirements of eight years for CFA charterholders, 10 years for candidates with a master's degree, and 12 years for those with a bachelor's degree, all in directing investments for a pension fund, endowment, foundation, or other investment organization with at least $10 billion in assets.
According to the posting, responsibilities include providing executive leadership to the investment division and professional staff managing the $28 billion portfolio; leading continuous re-evaluation of policies and processes against evolving best practices and modern performance metrics; formulating long-term investment philosophies, strategies, and asset allocation aligned with fiduciary goals; and overseeing investment programs across equities, private markets, and hedge funds.
June previously spent 17 years at LACERS between 1990 and 2008 before joining the Hawaii Employees' Retirement System as CIO in 2008. His departure leaves a leadership vacancy at a fund that reported a 14.53% return for the year ended June 30.
The fund serves more than 27,000 active members and 23,000 retirees and beneficiaries, providing both retirement and retiree healthcare benefits. The October job posting outlines experience requirements of eight years for CFA charterholders, 10 years for candidates with a master's degree, and 12 years for those with a bachelor's degree, all in directing investments for a pension fund, endowment, foundation, or other investment organization with at least $10 billion in assets.
According to the posting, responsibilities include providing executive leadership to the investment division and professional staff managing the $28 billion portfolio; leading continuous re-evaluation of policies and processes against evolving best practices and modern performance metrics; formulating long-term investment philosophies, strategies, and asset allocation aligned with fiduciary goals; and overseeing investment programs across equities, private markets, and hedge funds.
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