Following a global search, California’s educator-only pension fund has named a new chief investment officer from among its ranks.
Scott Chan will lead investment strategy for the California State Teachers’ Retirement System starting July 1, following former CIO Retirement of Christopher J. Ailmen. Chan has worked with Ailmen as deputy CIO since 2018.
“As deputy CIO, Scott has already added tremendous value to CalSTRS,” said pension system CEO Cassandra Lichnock. “He is helping to lead the alignment of our organizational sustainability goals with our sustainable investments and net zero goals. I look forward to your partnership as we continue to deliver on our promise to California teachers.”
Chan played a role in directing CalSTRS’ Collaborative Model investment strategy, which brings more assets in-house and leverages external partnerships to help protect and grow the fund. The model has saved CalSTRS $1.6 billion since 2017, the pension system said in announcing Chan’s appointment.
“I am committed to driving excellence in how we invest, including advancing sustainability practices and promoting diversity within CalSTRS, our portfolio companies, partners and the industry,” said Chan.
As CIO, Chan will manage $332.5 billion in assets.
Chan’s annual salary will be $540,000, plus a 200% incentive opportunity, the pension system said.
