Los Angeles Fire and Police Pensions CIO to Retire
Longstanding Chief Investment Officer (CIO), Tom Lopez of Los Angeles Fire and Police Pensions (LAFPP), is set to retire after more than 40 years of service to the fund. Mr. Lopez has been a stalwart in the CIO role since 1993 and has led the Investment Team in building a strong portfolio, successfully achieving returns above the benchmark for over 25 years.
“The LAFPP Commissioners wholeheartedly thank Tom Lopez for his years of service. His steady hand and wise advice are a pillar to the success of this fund,” said Board President Brian Pendleton.
Mr. Lopez began his career with LAFPP in 1980 and has worked with multiple boards over the years, guiding them in building the portfolio to where it stands today. His calm demeanor and methodical approach have helped navigate the fund through several market downturns and various financial crises, while maintaining an average pension funding status of over 90% since the late 1990’s.
During Mr. Lopez’s tenure, the Fund expanded from utilizing four money managers invested in a few stocks and bonds to approximately forty money managers invested in over a dozen different asset classes. Pension fund assets under management grew from approximately $400 million in 1980 to approximately $27 billion today.
LAFPP recognizes the dedication and wisdom of Mr. Lopez and wishes him the best in retirement.
LAFPP has engaged Korn Ferry to assist in finding a new CIO for the Plan. Selection of a new CIO is anticipated to occur in late March or early April 2021. Inquiries can be directed to Michael Kennedy of Korn Ferry.
LAFPP oversees the pension fund for sworn members of City of Los Angeles Fire, Police, Airport and Port departments. The fund is currently valued at over $27 billion in assets and serves over 26,500 members and beneficiaries.
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