US- CalPERS, the US’s largest public pension fund, has appointed Fred Buenrostro as its new CEO, following the departure of James Burton after eight years in the role to head up the World Gold Council in London.

Buenrostro is currently chief deputy director of the state department of personnel administration and a representative on the CalPERS board. It has not been confirmed when he will take up his new position.

Robert Walton, the scheme’s assistant executive officer, responsible for governmental affairs and planning and research, has been serving as CEO ad interim since the beginning of September. Walton's duties as assistant executive officer are being shared by other officers until he resumes the post.

Executive search firm Heidrick & Struggles handled the selection process for the position of CEO and interviewed 14 candidates.

Buenrostro becomes CalPERS’ seventh CEO at the California public employees’ fund, overseeing the system’s 1,600 employees, a budget of more than $214m, and operations spanning investments, health and retirement benefits administration, actuarial and employer services and other supplemental programmes.
















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