Ted Eliopoulos to leave CalPERS
15 May 2018 Sacramento
Image: Shutterstock
Ted Eliopoulos is due to leave The California Public Employees' Retirement System (CalPERS) to relocate to New York with his family.
Eliopoulos, chief investment officer (CIO) at CalPERS, will remain in his role until a replacement is found, assisting in the transition through the end of 2018. His replacement has not yet been announced.
Eliopoulos has been at CIO for nearly four years.
Joining CalPERS in 2007, Eliopoulos was initially senior investment officer for the real estate division and the real assets unit.
Following the financial crisis, he led the effort to restructure the asset class, refocusing on core investments in real estate and infrastructure.
He continued this work across all asset classes when he was appointed interim CIO in June 2013 and later as the permanent CIO in September 2014.
Under Eliopoulos's leadership, CalPERS established its first emerging manager plan in 2012 and the investment office's first diversity and inclusion committee in 2016.
He also established CalPERS’s first governance and sustainability plan and the opportunistic credit programme in 2016.
The news comes after it was announced Curtis Ishii, the firm’s managing investment director of fixed income, will retire from CalPERS, after a 40 year tenure with the agency.
Ishii will continue as managing investment director of fixed income and a portfolio official in charge of the firm’s fixed income programme until July this year.
Commenting on his departure, Eliopoulos said: “It's been extremely rewarding to have helped steward an investment institution that serves so many hardworking and deserving California families.”
He added: “I am confident the transition to a new CIO will be seamless as I leave the office in the hands of some of the most skilled investment professionals in the industry.”
Marcie Frost, CEO at CalPERS, commented: “Under Ted Eliopoulos leadership, the investment office has greatly reduced the cost and complexity of the investment portfolio and increased transparency around fees.”
She added: "Because every dollar we save goes back into the fund, our members will directly benefit from those cost savings for years to come. Ted has always been guided by our fiduciary obligation to our members and the fund."
Eliopoulos, chief investment officer (CIO) at CalPERS, will remain in his role until a replacement is found, assisting in the transition through the end of 2018. His replacement has not yet been announced.
Eliopoulos has been at CIO for nearly four years.
Joining CalPERS in 2007, Eliopoulos was initially senior investment officer for the real estate division and the real assets unit.
Following the financial crisis, he led the effort to restructure the asset class, refocusing on core investments in real estate and infrastructure.
He continued this work across all asset classes when he was appointed interim CIO in June 2013 and later as the permanent CIO in September 2014.
Under Eliopoulos's leadership, CalPERS established its first emerging manager plan in 2012 and the investment office's first diversity and inclusion committee in 2016.
He also established CalPERS’s first governance and sustainability plan and the opportunistic credit programme in 2016.
The news comes after it was announced Curtis Ishii, the firm’s managing investment director of fixed income, will retire from CalPERS, after a 40 year tenure with the agency.
Ishii will continue as managing investment director of fixed income and a portfolio official in charge of the firm’s fixed income programme until July this year.
Commenting on his departure, Eliopoulos said: “It's been extremely rewarding to have helped steward an investment institution that serves so many hardworking and deserving California families.”
He added: “I am confident the transition to a new CIO will be seamless as I leave the office in the hands of some of the most skilled investment professionals in the industry.”
Marcie Frost, CEO at CalPERS, commented: “Under Ted Eliopoulos leadership, the investment office has greatly reduced the cost and complexity of the investment portfolio and increased transparency around fees.”
She added: "Because every dollar we save goes back into the fund, our members will directly benefit from those cost savings for years to come. Ted has always been guided by our fiduciary obligation to our members and the fund."
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