US – CalPERS is still looking for a permanent replacement for Mark Anson, the chief investment officer who is leaving to join Hermes as chief executive.

The California Public Employees' Retirement System has named assistant executive officer Anne Stausboll as interim CIO. But the fund’s board has voted to conduct a “global search” for a replacement – and will hire an executive recruitment firm to assist it. The $196bn fund expects to name a new CIO in the next six to eight months.

"It is important that we find the best person for this job that will continue to build on CalPERS success in prudent, innovative and cost effective investment management," said president Rob Feckner.

"This will be a broad search that will be open to all qualified candidates, including our own excellent professional internal investment staff."

Anson resigned unexpectedly in October to take over from Tony Watson as the CEO at UK-based asset manager Hermes, which is owned by the BT Pension Scheme.

Stausboll formerly served in the CalPERS legal office for six years, including two years as deputy general counsel. She left in 1999 to become general counsel for California State Treasurer Phil Angelides, and was later appointed Chief Deputy Treasurer in July 2000. She returned to CalPERS in 2004.

"Anne is very well suited to lead our investment staff until a new chief investment officer can be found," said investment committee chairman Charles Valdes.

"Her strong leadership, policy development skills, and project management experience in State government will serve us well in the administration of our investment programs."

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