The California Public Employees' Retirement System has selected Stephen Gilmore, a senior investment leader with extensive experience in public and private financial institutions and across cultures and geographies, as the pension fund's chief investment officer. His appointment is expected to become effective in July. Gilmore, an internationally recognized investment leader whose career has spanned 40 years, comes to CalPERS after more than five years as the chief investment officer of the New Zealand Superannuation Fund (NZ Super Fund), a sovereign wealth fund owned by the New Zealand government and valued at more than $73 billion (NZD).