The City of San José Retirement Systems has begun the search to replace its outgoing chief investment officer, Prabhu Palani, who announced his retirement this month.
Palani joined the system in 2016 as a trustee and board member. In 2018, he was appointed the pension fund’s CIO, subsequently raising its investment performance from the bottom 1% to the top decile among its peer group nationally over a five-year period ending fiscal year 2024.
Prior to joining the pension system, Palani work at Tano Capital, where he served as a managing director and portfolio manager. Before that he founded Red Span Asset Management, a systematic Asia-focused hedge fund. Earlier in his career, Palani was a senior investment strategist and managing director with Mellon Capital and a senior vice-president and equity portfolio manager at Franklin Templeton. He also served as a principle and fixed income manager at Barclays Global Investors and as an investment strategist and fixed income portfolio manager/trader at NatWest.
The Office of Retirement Services (ORS) oversees the investment of assets and administers the benefits of the two defined benefit retirement plans for City of San José employees — the Federated City Employees’ Retirement System and the Police and Fire Department Retirement Plan.
“I want to thank Prabhu Palani for his partnership and support throughout my first year at ORS and in San Jose,” said John Flynn, the ORS’ chief executive officer, in a message on LinkedIn. “His leadership and commitment to the organization have helped shape a strong and effective investment program that serves our members well. I wish him the very best in his next chapter.”
