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Former Wash. state investment leader Joe Dear stepping back from California pension system role

Post by Brad Shannon / The Olympian on June 17, 2013 at 3:21 pm with No Comments »
June 17, 2013 3:21 pm
Joe Dear
Joe Dear

Joe Dear, the former aide to then-Gov. Gary Locke and later executive leader of the Washington State Investment Board, is in the news for less than happy reasons. Bloomberg reported over the weekend that prostate cancer has forced Dear, executive leader of the California pension system, to step back from his day-to-day role managing the largest pension system in the country.

Dear, 62, is chief investment officer at CalPERS and continues to work from home, according to Bloomberg’s report.

Dear hsd roots and enjoyed a public profile in Olympia as a graduate of The Evergreen State College, director of the state Department of Labor and Industries, Locke’s chief of staff, and also running the Washington State Investment Board from 2002 until he left in 2009.

The California Public Employees Retirement System gig was a big step up to managing what is now $260 billion that has gained $96 billion from the depths of the Great Recession. Teresa Whitmarsh was hired to take Dear’s place at the WSIB in 2009.

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