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Russell Read

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BUSINESS
April 24, 2008 | Tom Petruno, Times Staff Writer
The giant CalPERS pension fund is losing its investment chief to the green movement. In a surprise, Russell Read -- who has been principal investment officer of the California Public Employees' Retirement System for just two years -- told the pension system's board this week that he's leaving June 30. Read, 44, said in a letter to the board that he was quitting "to pursue my long-standing interest in environmental and clean-technology investing."
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BUSINESS
April 24, 2008 | Tom Petruno, Times Staff Writer
The giant CalPERS pension fund is losing its investment chief to the green movement. In a surprise, Russell Read -- who has been principal investment officer of the California Public Employees' Retirement System for just two years -- told the pension system's board this week that he's leaving June 30. Read, 44, said in a letter to the board that he was quitting "to pursue my long-standing interest in environmental and clean-technology investing."
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BUSINESS
August 7, 2006 | Marc Lifsher, Times Staff Writer
The financial wizard hired to invest billions of dollars for the state pension system is about to take the nation's largest pension fund where it's never gone before: into commodities. Commodities are raw materials such as oil, metals and grains traded on the open market in the form of securities such as futures contracts. They are considered risky, but in recent years they have often paid off handsomely.
BUSINESS
August 7, 2006 | Marc Lifsher, Times Staff Writer
The financial wizard hired to invest billions of dollars for the state pension system is about to take the nation's largest pension fund where it's never gone before: into commodities. Commodities are raw materials such as oil, metals and grains traded on the open market in the form of securities such as futures contracts. They are considered risky, but in recent years they have often paid off handsomely.
BUSINESS
January 23, 2007 | From Bloomberg News
The California Public Employees' Retirement System may begin managing retirement money for people who aren't public workers, putting it in competition with private mutual fund companies such as Fidelity Investments and Vanguard Group. The largest U.S. public pension fund is considering a plan to expand by selling some mutual-fund-type products to private employers and investors in California as a way to generate fees, said Russell Read, the fund's chief investment officer.
BUSINESS
May 26, 2007 | From Times Staff and Wire Reports
Citing probes into stock option backdating, the biggest U.S. pension fund said it would oppose the reelection of board members who led compensation committees at McAfee Inc., Monster Worldwide Inc. and Affiliated Computer Services Inc. The $245-billion California Public Employees' Retirement System said in a statement that it would withhold votes from Denis O'Leary of McAfee, Michael Kaufman of Monster, and Darwin Deason and Joseph O'Neill of Affiliated.
BUSINESS
April 20, 2006 | From Bloomberg News
The California Public Employees' Retirement System has hired Russell Read, deputy chief investment officer at Deutsche Asset Management, to be its new chief investment officer. Read, 42, replaces Mark Anson, 46, who resigned in January to become head of British retirement management firm Hermes Pensions Management Ltd.
BUSINESS
November 20, 2007 | From Times Wire Services
The California Public Employees' Retirement System, the largest public pension fund in the country, is contemplating shifting money out of U.S. stocks to make its $250-billion portfolio more global. One scenario under consideration calls for CalPERS to reduce its U.S. stock position to 23.8% of total assets from 40% of assets, the fund's investment chief, Russell Read, told the pension plan's board. Such a shift would put the fund's U.S.
BUSINESS
April 26, 2008 | From Bloomberg News
The chief executive of the California Public Employees' Retirement System is planning to leave by the end of the year amid tensions with the board, according to two people familiar with the matter. The board is in discussions with Fred Buenrostro, 58, about his departure from the largest U.S. public pension fund, known as CalPERS, said the people, who declined to be identified. He has been in the job since 2002 and was a member of the board of directors for 15 years. CalPERS has $244 billion in assets.
BUSINESS
June 10, 2006 | From Bloomberg News
Questions about improperly dated stock options widened Friday as Bay Area software makers McAfee Inc. and Intuit Inc. said their option practices were being investigated by the federal government. Media reports about the spreading probe prompted the California Public Employees' Retirement System to demand that 25 companies, including UnitedHealth Group Inc. and Comverse Technology Inc., start investigations into whether they backdated stock options granted to top executives.
CALIFORNIA | LOCAL
July 12, 1990 | LANIE JONES, TIMES STAFF WRITER
A Superior Court judge has ordered that Dr. Glen C. Mahoney, an El Toro doctor, must work under the supervision of another physician and stop administering vitamins and hydrogen peroxide intravenously in his therapies. But Judge William F. Rylaarsdaam rejected the Medical Board of California's request that Mahoney be immediately barred from practicing medicine. The state had sought the order as part of a civil suit that accuses Mahoney of negligence.
BUSINESS
April 16, 2008 | From the Associated Press
Hedge funds should increase their transparency and improve their risk management, two advisory groups assembled by the Bush administration said Tuesday. Treasury Secretary Henry M. Paulson Jr. said the voluntary guidelines proposed by the panels would send "a strong message that heightened vigilance is necessary and appropriate and that all stakeholders have an important role to play."
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