Finance
Calpers CIO Musicco to Step Down After Less Than Two Years
- Musicco cites family reasons for leaving on Sept. 29
- Largest US pension has faced pressure to hit return target
Nicole Musicco
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
The California Public Employees’ Retirement System said Chief Investment Officer Nicole Musicco will step down less than two years after she joined the largest US pension fund, sparking another round of turmoil in the high-profile public investing office.
Musicco, 49, will leave her position at Calpers Sept. 29 to focus on her family in Canada, according to a statement on Friday from Calpers. She oversaw about 400 employees and managed an investment portfolio of about $500 billion.