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New York City Pension Hires Risk and Compliance Officers As Part of Ethics Reform

New York City’s pension system has made a series of hires recently as part of an ethics package proposed by City Comptroller Scott Stringer in 2014. The system has hired an internal auditor, a chief risk officer and a chief compliance officer. More from ai-cio.com: Miles Draycott, formerly at Merrill Lynch and Deutsche Bank, was appointed chief risk ...
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New York City Pensions Pulled $4.9 Billion From Pimco in 2014

New York City’s pension funds have pulled $4.9 billion from Pimco since Bill Gross left the firm in September. A City spokesman confirmed that the pullout was due to “organizational change” within the firm. From Reuters: “The New York City Pension Funds recently transitioned out of $4.9 billion in Pimco accounts due to concerns over recent ...
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Cuomo Rejects Bill To Increase Alternative Investments By Pensions

New York Governor Andrew Cuomo on Thursday vetoed a bill that aimed to raise the percentage of assets New York City and state pension funds could allocate towards hedge funds and private equity. From Bloomberg: Governor Andrew Cuomo vetoed a bill that would have allowed New York state, city and teachers pension funds to allocate a larger percentage ...
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NYC Pensions Paid Record Fees in 2014; Former Pension Official Says Comptroller “Dragging His Feet” On Cutting Expenses

New York City Comptroller Scott Stringer serves as investment advisor to the boards of the city’s five pension funds, which together manage $144 billion in assets. Last year, Stringer’s office said the city’s pension systems needed to “limit costs” and “negotiate lower fees”. One year later, the pension systems have paid a record number ...
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NYC Comptroller Explains Boardroom Accountability Project in Open Letter

New York City Comptroller Scott Stringer is pushing corporations to give their biggest investors – often pension funds – more power over corporate boardrooms. Stringer says pension funds can use their leverage as large shareholders to rein in excessive executive compensation and make corporate boards more diverse. From a piece written by Stringer ...
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Video: New York City Comptroller Talks About Push By Pension Funds For More Control of Corporate Boardrooms and City’s Hedge Fund Allocation

Here’s an interview with New York City Comptroller Scott Stringer. Stringer is trustee of the City’s five pension funds. During the course of the interview, Stringer talks about his push for pension funds to have more control over corporate boardrooms. He also defends the city pension system’s hedge fund allocations.
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CalPERS, New York Pensions Lead Push To Give Largest Shareholders More Control Over Corporate Boardrooms

Pension funds are often among a corporation’s largest shareholders, a position that gives them unique ability to influence corporate decision-making and governance. But a handful of the nation’s largest public pension funds are leading a push for more oversight over corporate governance – namely, the ability to hire and fire a company’s director. From ...
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