Curtis Ishii will retire from California Public Employees’ Retirement System (CalPERS), after a 40 year tenure with the agency.
Ishii will continue as managing investment director of fixed income and a portfolio official in charge of the firm’s fixed income programme until July 2018.
Senior portfolio manager for fixed income at the agency, Arnie Phillips, will replace Ishii in the interim until a permanent replacement is chosen.
Commenting on Ishii’s departure, Theodore Elipoulous, CIO of CalPERS, said: “Over the span of Ishii’s investment career, CalPERS has weathered a number of storms, and he’s been at the centre of guiding and steering the ship during this, to tick off a few of the major ones, in 1989, the cash of the high yield bond market, the so-called great bond market massacre of 1994, the Asian financial crisis and Russian default crisis of 1998 and 1997.”
Elipolous added: “Ishii has always been centre of advice for the asset team.”
“His advice and counsel and recommendations are respected and have provided great leadership to CalPers over the years.”
