The California State Teachers’ Retirement System today announced John Petzold as its first Director of Investment Management/Deputy Chief Investment Officer. The position comprises both the broad administrative duties of a deputy chief investment officer and the more focused responsibilities of a director of an asset class.
Petzold’s promotion, from CalSTRS Director of Investment Operations, is effective as of August 1, 2010. He will oversee many of the daily administrative duties of an increasingly complex CalSTRS Investment Branch in his new position. He will also be at the helm of the developing Absolute Return asset class that includes infrastructure and Treasury Inflation Protected securities.
“John offers CalSTRS a wealth of institutional knowledge and has the proven ability to handle both the administrative and investment challenges that this job will demand of him,” said CalSTRS Chief Investment Officer Christopher J. Ailman. “John emerged as the top choice from a field of both internal and external candidates following a nationwide search.”
Ailman said he wants to keep a flat hierarchy in the CalSTRS Investments Branch and Petzold’s new position places him as a peer with investment directors in Global Equities, Fixed Income, Private Equity, Real Estate and Corporate Governance.
With 30-years of CalSTRS experience, Petzold has held positions in both the benefits accounting and investments sides of the organization. He joined CalSTRS as an analyst in the accounting office of the Benefits Division one year after earning a bachelor’s degree in accounting from the California State University, Sacramento, in 1979.
CalSTRS became independent of CalPERS in its investment management in 1983. That year, Petzold transitioned to the CalSTRS Investment Accounting Division, rising through the ranks to the top position. In 1988, Petzold joined the Investments Operations Division and later became Director of Investment Operations.
A native of Sacramento, Petzold is married with three sons–all Eagle Scouts–who are now in college. He remains involved with the Boy Scouts of America and is also a member of the Cabrillo Civic Clubs of California.
The California State Teachers’ Retirement System, at $134.3 billion, is the second largest public pension fund in the United States. It administers retirement, disability and survivor benefits for California’s 848,000 public school educators and their families from the state’s 1,400 school districts, county offices of education and community college districts.