Deals and People February 16, 2005

CalPERS Taps Feckner as Board Chief

February 16, 2005 (PLANSPONSOR.com) - The California Public Employees' Retirement System (CalPERS) Board of Administration has two new leaders.
Reported by

The giant $182 billion pension fund, the nation’s largest public fund, on Wednesday tapped Rob Feckner as its president and Robert Carlson as vice president, CalPERS announced in a news release .

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Feckner, a glazing specialist for the Napa Valley Unified School District, was first elected to the CalPERS Board in 1998 and re-elected in 2002 by the system’s classified school members. He has been board vice president and chairman of the board investment committee for the past two years.

Meanwhile, Carlson is the senior member of the CalPERS Board, serving since 1971. He was board president from 1976 to 1985 and vice president from 2000 to 2002. Carlson is elected by and from CalPERS retired members. Prior to his retirement in 1985, Carlson was chief counsel for the California Department of Transportation.

According to news reports, Feckner, chosen in a 12 to 0 vote, also vowed to fight against lavish executive salaries and Governor Arnold Schwarzenegger’s proposal to privatize state public pension systems. Feckner replaces ousted labor leader Sean Harrigan, who had led the retirement system since 2003.

CalPERS administers retirement and health benefits for 1.4 million current and retired California public employees and their families.

Deals and People February 15, 2005

Phalen Leaving CitiStreet for State Street

February 15, 2005 (PLANSPONSOR.com) - CitiStreet chairman and CEO James Phalen will be rejoining parent company State Street Corp. as executive vice president and head of the North American investment servicing group.
Reported by

Phalen has been at the post since 2000 when CitiStreet was founded as a joint venture between State Street and Citigroup, according to a press release. He will begin in his new position on March 1 but will remain on the CitiStreet board.

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Taking the place of Phalen as CitiStreet chairman of the board and CEO will be Philip Lussier, the current president of retirement services at CitiStreet. James Murphy, president of CitiStreet’s Total Benefits Outsourcing (TBO) Division, will be the company’s new president, according to the news release.

Among his various duties, Lussier had been in charge of the large corporate and government defined contribution business, responsibilities that will now move to Sandra McCarthy, president of Retirement Services, the press release said. Before joining CitiStreet, Lussier was director of sales and marketing for the Retirement Investment Services division of State Street Global Advisors. He also has served as director of sales and marketing for defined contribution services at Putnam Investments.

Prior to taking the position as CitiStreet TBO chief, Murphy was a senior vice president in the Retirement Investment Services division of State Street Global Advisors, according to the announcement.

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