CalSTRS Seeks a Director of Global Equities
The position oversees a portfolio valued at more than $100 billion.
SACRAMENTO, CA – The California State Teachers’ Retirement System (CalSTRS) today launched a national search for a Director of Global Equities to oversee a portfolio valued at more than $100 billion.
The director reports to the Chief Investment Officer, provides leadership to investment staff and investment expertise to the Teachers’ Retirement Board on U.S. and non-U.S. equity investments. The position directs both internal and external investment managers and provides strategic direction for CalSTRS largest asset class.
“This position requires a strategic thinker who can be both visionary and adroit at navigating a sophisticated global investment environment,” said CalSTRS CIO Christopher J. Ailman. “The person holding this position will exercise a high level of independence and discretionary judgment over nearly two-thirds of the $170 billion CalSTRS investment portfolio.”
Among the director’s duties are:
- Strategic goal setting for the Global Equity Portfolio
- Leading, managing and mentoring CalSTRS’ global equities team of 11 staff members
- Overseeing the activities of more than 30 external managers
- Conducting research and provide industry leadership
The incoming director follows Elleen Okada who took the reins as Director of Global Equities 11 years ago. Okada arrived at CalSTRS 36 years ago as an accountant and rose through the investment ranks. She took leave on March 28, 2008 but her retirement becomes effective Nov. 1.
“Elleen was a valuable and integral member of the senior investment leadership team at CalSTRS and has been sorely missed,” Ailman said. “She’s been Director of Global Equities through three CIOs, including myself. Elleen has helped lead us through a period of tremendous growth.”
When Okada arrived at CalSTRS, investment assets totaled $2.4 billion and the pension plan was funded at about 30 percent, Ailman added. Today, assets are nearly 71 times that value and the pension plan is funded at 87 percent.
CalSTRS has hired EFL Associates to conduct the search. Interested candidates are invited to submit a resume and cover letter to:
- Executive Vice President Mary Hobson at firstname.lastname@example.org
- Call Hobson or Assistant Vice President Elena McCall at (303) 779-1724 for more information
Established 95 years ago, the California State Teachers’ Retirement System, with a $164 billion portfolio, is the second-largest public pension fund in the United States. It administers retirement, disability and survivor benefits for California’s 813,000 public school educators and their families from the state’s 1,400 school districts, county offices of education and community college districts.