Ailman to retire from CalSTRS, country's second-largest pension system
Chris Ailman on Thursday announced plans to retire as chief investment officer for the California Public Teachers' Retirement System (CalSTRS) after a 24-year run.
Why it matters: America's two largest public pensions, CalPERS and CalSTRS, are now on the hunt for new CIOs.
- CalPERS CIO Nicole Musicco quit her post last September after just two years on the job.
Details: CalSTRS will immediately launch a search to replace Ailman.
- He will step down from the CIO post on June 30, but remain a senior adviser through the end of the year.
- The system manages about $305 billion, roughly three times its size when Ailman joined in 2000.
- He's been particularly vocal about the importance of climate change and how institutional investors can help in the energy transition.