CalPERS appoints chief compliance officer

The California Public Employees’ Retirement System named Marlene Timberlake D’Adamo of PNC Bank its new chief compliance officer.

The California Public Employees’ Retirement System (CalPERS) has named Marlene Timberlake D’Adamo as its chief compliance officer (CCO), effective 11 April, the pension fund said.

Timberlake D’Adamo will oversee the Enterprise Compliance programme with responsibilities including administering a comprehensive compliance monitoring and oversight programme regarding legislative and regulatory requirements, as well as industry guidelines, CalPERS said.

She will also advise the board of administration and executive and senior management staff with oversight from the chief financial officer Cheryl Eason.

Most recently, she was managing director and senior vice president of portfolio and risk management at PNC Bank, where she worked for almost five years, according to her LinkedIn profile. There, she managed two teams responsible for protecting client assets, the profile said.

Earlier in her career, Timberlake D’Adamo had been CCO at Glenmede Investment Management, senior vice president at HedgeOp Compliance and CCO at Quoin Capital. She’s also served as an attorney at her eponymous law firm and at Parker McCay, and as a legal specialist at the State of New Jersey’s Department of Community Affairs, according to her LinkedIn.

Timberlake D’Adamo replaces Sherry Johnstone, who was appointed CCO at CalPERS in December 2004. It is unclear why Johnstone left the $285 billion pension fund.

A CalPERS spokesperson could not immediately be reached for comment.