CalPERS is doubling down on its climate-focused strategy. Its "centrally planned" approach will neither address global climate change nor help companies perform better.
NEW YORK (Reuters) -The Chief Investment Officer of the largest U.S. state pension manager, the California Public Employees Retirement System (CalPERS), will step down on Sept. 29, CalPERS said in a statement on Friday. Nicole Musicco, who was the second woman in its history to have led the investment operations of the $463 billion fund, is leaving to "attend to the immediate needs of family in her native home of Toronto, Canada", CalPERS said. CalPERS said Musicco's deputy Dan Bienvenue will serve as interim chief investment officer and it will soon start a global search for her replacement.