CalPERS Names Farouki Majeed To Senior Investment Officer Post

The California Public Employees’ Retirement System (CalPERS) has named Farouki A. Majeed as its new Senior Investment Officer for asset allocation management.

Majeed comes to CalPERS from the Abu Dhabi Retirement Pensions & Benefits Fund of the United Arab Emirates, where he has served as the inaugural Chief Investment Officer since 2004.

In the new CalPERS position, he will be responsible for asset allocation implementation, the pension fund’s Asset Allocation Team, and the CalPERS Board’s Asset Allocation Workshop, scheduled for November 2007.

“Asset allocation is at the heart of our success as a long-term investor with a diverse portfolio,” said Russell Read, CalPERS Chief Investment Officer. “Farouki Majeed is highly regarded for his wide global investment experience. He has a keen interest in asset allocation that will add significant value as we implement our strategic vision.”

Majeed recommended asset allocation policy for the Abu Dhabi fund and has established a global investment program. He also was Deputy Director, Investments, for the Ohio Public Employee Retirement System from 2002 to 2004. From 1997 to 2002, he was Chief Investment Officer for the Orange County Employees Retirement System. He began his investment career in 1980 with the National Development Bank of Sri Lanka, his homeland, and served in various investment and finance education positions in the United States.
 
Majeed holds a Masters Degree in Business Administration-Finance from Rutgers University, and a Bachelor’s degree in engineering from the University of Sri Lanka. He is a Chartered Financial Analyst.

CalPERS has assets totaling more than $245 billion and provides retirement and health benefits to approximately 1.5 million State and local public employees and their families. For more information on CalPERS, visit www.calpers.ca.gov.