After three years in China as the deputy chief investment officer for the State Administration of Foreign Exchange, former employee Ben Meng will return to CalPERS as Chief Investment Officer (CIO). He will succeed Ted Eliopoulos who was CIO since 2014.
Adam Ashton filed this report in the Sacramento Bee:
”We are pleased to have (Meng) back,” CalPERS Board of Administration member Henry Jones said Monday. “He has deep understanding of our investment operations. We look forward to introducing him personally to our members, employers (and) stakeholders in the future when he returns to the United States.”
Meng, 48, worked at CalPERS from 2008 to 2015, including a term as head of asset allocation. State salary records show he earned almost $500,000 in his last year at the fund. He’ll be able to earn up to $1.77 million in salary and bonuses as CalPERS chief investment officer.
“Ben’s strong investment background makes him well-suited to lead our investment strategy,” CalPERS Chief Executive Officer Marcie Frost said in a news release. “He understands the need to drive investment returns to help us achieve a fully funded system.”