The State of California has filed suit against Morgan Stanley & Co., accusing it of knowingly misleading the California Public Employees’ Retirement System (CalPERS) and the California State Teachers’ Retirement System (CalSTRS), enticing the two huge pension funds to buy toxic mortgage-backed securities during the housing bubble that led to the Great Recession. The complaint,… Read More >>
Broadridge Adds Fourth Senior Manager from Asset Control
Broadridge Hires for Data Management Experience Lake Success, N.Y.-based Broadridge Financial Services reports that it has added four former Asset Control executives, all of whom have extensive experience with data management software. Robert Revesz has been named senior director, with a focus on reference data client services and implementations, Broadridge says, noting that he joins… Read More >>
CalPERS Claims Victory in Legal Battle with Moody’s
Claiming a precedent-setting victory, the California Public Employees’ Retirement System (CalPERS) has concluded its case against the ratings agency Moody’s and its allegedly erroneous AAA ratings for illiquid structured investment vehicles that spurred losses for the pension fund and laid the groundwork for the Great Recession. As a result of the lawsuit settled last week,… Read More >>
Calpers CEO to Retire at the End of June
Calpers CEO to Retire by mid-2016 CEO for the California Public Employees’ Retirement System (Calpers) Anne Stausboll says she will retire as head of the nation’s largest public pension fund on June 30, 2016, at the end of the fund’s current fiscal year. Stausboll has been CEO since January 2009, and she took on the… Read More >>
Calpers Wants Private Equity Firms to be More Transparent
The California Public Employees’ Retirement System (Calpers), the largest public pension fund in the U.S., is looking for more transparency from private equity firms and calling for a more open reporting process going forward. That’s important because, in 2015, Calpers invested $27.6 billion in private equity. But as big as that investment seems, it’s less… Read More >>
Calpers Defends Decision to Dump Hedge Funds
The California Public Employees’ Retirement System (Calpers) is staying the course despite recent criticisms about its decision in September 2014 to end its hedge fund program. Calpers manages the pensions of firefighters, police, teacher and other employees of the state of California, and has more than $300 billion in assets under management (AUM). Known for… Read More >>
Clarus and Compliance Science Add Staff in Europe
Clarus Financial Technology Opening Belfast R&D Center Clarus Financial Technology, a London-based fintech company, is establishing a research and development center in Belfast, Northern Ireland, which it says will create 15 new jobs. As part of the Belfast project, Invest Northern Ireland has made a £75,000 ($115,449.97) employment grant to Clarus. “The 15 new jobs will… Read More >>
SunGard, BNY Mellon Announce Promotions for Treasury Businesses
SunGard Promotes Company Veteran to Treasury Business President SunGard Financial Systems reports the appointment of Andrew Bateman, a company veteran, to the post of president of its treasury business unit. Bateman, who is now president of SunGard’s treasury solutions and energy businesses, has spent more than 15 years at the Wayne, Pa.-based financial software and… Read More >>
Calpers to Sever Ties with Half of External Managers
More than half of the external investment managers currently retained by Calpers could soon find themselves on the chopping block, as the largest public pension fund in the U.S. seeks to cut those relationships down to 100 from the current total of 212, in an attempt to decrease costs and overall risk and complexity. “Calpers… Read More >>
Calpers to Provide Liquidity to the OCC
The Options Clearing Corp. (OCC), a Chicago-based equity derivatives clearinghouse, has reached an agreement with the California Public Employees’ Retirement System (Calpers), the largest pension fund in the U.S., to establish a liquidity facility that will allow the OCC to tap Calpers for cash in the event of a default at one of its counterparties,… Read More >>
