San Diego County ERA CEO White Resigns
San Diego County Employees’ Retirement Association CEO Brian White has resigned effective March 30, 2015. The retirement board voted 8 to 1 to pass the mutual separation and severance deal, which includes nearly one year’s pay for Brian White. Board Vice Chairman David Myers voted “no” on the measure. San Diego-based Efficient Market Advisors, LLC President David Wescoe, who is the pension’s management consultant, will fill in as interim CEO until a replacement is made. Before his role at Efficient Market Advisors, Wescoe was CEO of Motion Picture Industry Pension and Health Plans and former CEO of San Diego City Employees’ Retirement System.
According to a news release, “The board and Mr. White have amicably agreed that Mr. White’s tenure as SDCERA’s chief executive officer will end March 30, 2015.”
San Diego County Employees Retirement Association was the California county pension that dumped its outsourced CIO program that was managed by Houston-based Salient Partners. The retirement association was paying Salient Partners US$ 10 million a year to perform outsourced CIO duties.
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