MassMutual namesEric Partlan CIO
MassMutual named Eric Partlan itsnext chief investment officer, effective March 1, upon the retirement of TimCorbett, who spent 12 years as CIO. Partlan currently is the head of portfolio managementand, according to his Linkedin profile, leads a team of 20 and has been charged withcreating the next generation of ALM analytical systems. He’ll report to RogerCrandall, the chairman, president and CEO of MassMutual. Partlan started hiscareer as an engineer for Boeing and B/E Aerospace. He holds an MBA from MITSloan School of Management, as well as an MS in Mechanical Engineering from MIT,an MS in Industrial Engineering from Georgia Institute of Technology, and a BS inMechanical Engineering and BA in Accounting from Michigan State.
CalSTRS chooses Jimenez, DiRe as new senior investment directors
The California State Teachers’ Retirement System promoted Geraldine Jimenez to senior investment director of public markets and Mike DiRe to senior investment director of private markets.
Jimenez was the former director of investment strategy and risk, and now serves as the senior leader over the public markets: Global Equity, Fixed Income and Risk Mitigating Strategies. DiRe, who was director of Real Estate, is the senior leader over the private markets: Real Estate, Private Equity and Inflation Sensitive.
Jimenez and DiRe report to Deputy Chief Investment Officer Scott Chan.
“Geraldine and Mike each have decades of institutional investing expertise and excellent track records of leadership at CalSTRS,” Chan said in a written statement. “That’s a very valuable combination that will benefit our Investments team as we continue to strengthen our organization to equip us for the future. I’m delighted to work with them in these new senior leadership roles and know how committed they both are to bolstering our mission of securing the retirement of California’s public educators.”
Jimenez and DiRe oversee the management of internal and external portfolios and the execution of Teachers’ Retirement Board Investment Committee policies, make tactical and strategic recommendations and advise the deputy CIO.
CalPERS Names Peter Cashion Sustainability Head
The $453 billion CalPERS has hired Peter Cashion as managing investment director (MID) for Sustainable Investments. He will set the vision, strategy, and governance for CalPERS’ sustainability work and be responsible for leading all aspects of the fund’s efforts to develop and implement an economics-based ESG research and data framework to support environmental, social, and governance (ESG) integration into the investment decision-making process, according to a CalPERS press release.
The fund’s Chief Investment Officer Nicole Musicco said Cashion’s long record of impact investing across global markets elevated him in the search and made him a great fit with the fund’s mission. She noted, “His experience as a hands-on investor in multiple asset classes, standing up complex sustainable investing strategies and leading diverse global teams, makes him the right person to take the reins of CalPERS’ sustainability efforts.”
Cashion will start his new role in March, upon leaving the World Bank’s International Finance Corporation (IFC), where he currently is global head of climate finance and chief investment officer in the Financial Institutions Group (FIG). He headed $3.7 billion in annual climate investments in financial institutions, which represented 34% of FIG’s investment volume, and established a global strategy to accelerate a just transition to a green economy by leveraging the financial sector, mobilizing institutional investors, and developing the infrastructure to move markets to Paris Agreement alignment.
His career at IFC spans back to 1995 and includes roles such as global equity head, principal investment officer, and principal financial officer.
“CalPERS offers an unparalleled platform to capitalize on the ESG investment opportunity and they are a recognized global leader in corporate engagement, advocacy, and stewardship,” he said.
Cashion is planning to position the portfolio for the transition to a low carbon economy, develop new investment strategies around it, and advance the Net Zero implementation plan, according to the press release.
CDPQ Promotes Aucoinand Latour, Coiteux and Bergeron Depart
Maxime Aucoin, currentlyresponsible for Portfolio Construction, Asset Allocation and CurrencyManagement, will now also be responsible for Economic and Financial Analysis,Global Strategy and Depositor Advisory Services added to his responsibilities.
David Latour will become ExecutiveVice-President of Risk Management when Claude Bergeron retires in a fewmonths. His primary function will be to ensure sound management of the riskrelated to our investment strategies and operations.
Martin Coiteux is leaving CDPQ inFebruary after four years as Head of Economic Analysis and GlobalStrategy.
Kudos to Claude Bergeron, Chief Risk Officer,who is retiring after 35 years of service to CDPQ.
New Jersey Hires Two IvyLeague Deputy CIOs
NewJersey Department of the Treasury’s Division of Investment hired Lisa A.Walker as deputy director and deputy chief investment officer, and William(Bill) J. Connors as deputy executive director and deputy chief investmentofficer.
Connorswas elevated from his role as head of fixed income within the Division, whileWalker comes to the Division with a wealth of private sector experience.
“Bypromoting Bill and bringing Lisa in, our leadership team is now well-roundedwith institutional knowledge and fresh ideas,” said Chief InvestmentOfficer and Director of the Division of Investment Shoaib Khan in awritten statement.
Connors,with the fund since 2020, was brought in to lead the fixed income team and has three-decadesof demonstrated expertise in investment policy, asset allocation andgovernance, portfolio construction, and operations management in traditionaland alternative investments. He holds a BA in mathematics from Drew Universityand a Masters of Business Administration in Finance from Columbia University –Columbia Business School.
Walkeralso has a three-decade long career working in the private sector for firmsincluding JP Morgan, Goldman Sachs, and Merrill Lynch. Most recently, Walkerwas a senior investor on BlackRock’s Global Allocation Fund, a multi-assetstrategy fund with assets under management during her tenure of up to $100billion. With investing expertise in public equities, fixed income, currencies,commodities and derivatives, and across all geographies, she holds a Bachelorof Science in Business Administration from Georgetown University and a master’sin Business Administration from Harvard Business School.