LACERS opens search for CIO

The Los Angeles City Employees' Retirement System (LACERS) and its search consultant Korn Ferry have opened a search for the chief investment officer of the $28.1 billion pension system, according to the publisher's summary of a job announcement posted by Andrew Brown, a sector leader at Korn Ferry. The search follows the departure of CIO Rodney June, who retired in July after nearly 14 years leading the investment function. During June's tenure, the fund more than doubled, growing from $10.4 billion in 2012 to $27 billion in 2026.

The incoming CIO will provide executive leadership and direction to the investment division and professional staff, and will lead the continuous re-evaluation of investment policies, procedures and standards. The role also includes monitoring external investment managers and consultants for compliance with contractual obligations, reporting findings and recommendations to the pension fund's board on investment matters, and overseeing the system's Limited Term Retirement Plan investment options. The CIO will report directly to general manager Todd Bouey.

LACERS is seeking a professional with extensive experience directing investments or investment policy for a public retirement system, corporate pension fund or major investment organization. Candidates must have overseen or managed institutional portfolios with $10 billion or more in assets and offer specialized expertise across multiple asset classes and strategies. Brown and Korn Ferry Managing Consultant Lindsay Higerd will assist LACERS in the search. The pension system serves more than 27,000 members and over 23,000 retirees and beneficiaries.