US – Calpers is losing its assistant executive officer for investment operations, Robert Aguallo, to the Los Angeles City Employees’ Retirement System.

Aguallo, who has been employed at Calpers for fourteen years, will leave the company at the end of January to take up his new role as executive director at the city of Los Angeles public employee’s 6.7 billion dollar (6.4 billion euro) retirement fund.

Chief investment officer at Calpers, Mark Anson said the company was saddened to lose Aguallo, but added, “the members of the Los Angeles Retirement System would be in good hands”.

Calpers is the US’s largest pension fund with assets of approximately 132 billion dollars.