The $556.2B California Public Employees’ Retirement System is appointing Prashant Yerramalli special advisor to its leadership and board, while preparing to assume the role of the agency’s general counsel upon successfully passing the California Bar Examination.
Yerramalli’s career spans decades, serving in several public and private legal roles in investment management and finance, including as chief of staff for the U.S. Securities and Exchange Commission. In that role, he served as the chair’s lead advisor on strategy, policy enforcement, operations, and rulemaking. He joins CalPERS after most recently working as vice president of operations and regulatory affairs for Public.com, an online multi-asset investing platform.
Earlier in his career, Yerramalli worked at Brookfield Asset Management, as well as law firms Jenner & Block LLP and WilmerHale. He began his career in public service as a law clerk to senior U.S. district judge for the Southern District of New York Honorable Naomi Reice Buchwald and served both as an SEC enforcement attorney and counselor to former SEC Commissioner Robert Jackson.
“Prashant brings a wealth of experience in public sector law, corporate governance and fiduciary responsibility to CalPERS,” said the pension fund’s chief executive officer, Marcie Frost, in a press release. “We look forward to his contributions as he transitions into the position of general counsel, where he will play a vital role in helping us fulfill our mission to deliver retirement security to our members.”
In his interim role as special advisor, Yerramalli will provide strategic legal guidance and support to CalPERS leadership and board ensuring continuity in legal services during this transitional period, noted the release. He will also oversee the fund’s Enterprise Compliance, Risk and Governance Office, the Information Security Office, and its Equal Employment Opportunity Program.
“I am honored to join CalPERS and contribute to its mission of providing retirement and health security to public employees,” said Yerramalli, in the release. “I look forward to working with the talented team at CalPERS to address the legal challenges and opportunities ahead, ensuring the fund remains strong and sustainable for generations to come.”
