Joseph A. Dear
Chief Investment Officer
1951 - 2014
Joseph Dear was the Chief Investment Officer of the California Public Employees’ Retirement System (CalPERS). Mr. Dear oversaw all asset classes in which CalPERS invests, including domestic and international equity, Treasury and agency debt, high‐yield bonds, mortgage backed securities, real estate, corporate governance, currency overlay, securities lending, venture capital, leveraged buyouts, commodities, infrastructure and hedge funds.
Mr. Dear was responsible for the strategic plan for the CalPERS Investment Office, including tactical asset allocation, risk management, business development, budget authority, new investment programs, trading technology, staffing, and back office operations.
Mr. Dear joined CalPERS in March 2009 after previously serving as the Executive Director for the Washington State Investment Board. He previously served as Chief of Staff for Washington State Governor Gary Locke. Mr. Dear also served in the Clinton Administration as Assistant Secretary of Labor at the Occupational Safety and Health Administration. Prior to his federal service, Mr. Dear was Director of the Washington State Department of Labor and Industries where he managed the state’s workers’ compensation insurance fund and served as an ex‐officio member of the Washington State Investment Board including two terms as Chair. Earlier, he was Research Director for the Washington State Labor Council (AFL‐CIO).
Two of the programs he managed at OSHA and the Department of Labor and Industries received Innovations in Government Awards from the Ford Foundation and the Kennedy School of Government at Harvard University.
Mr. Dear also served as Chair of the U.S. Security and Exchange Commission (SEC) Investor Advisory Committee, and was a board member of the Pacific Pension Institute. He also served four terms as Chair of the Council of Institutional Investors. Mr. Dear received a Bachelor of Arts degree in Political Economy from The Evergreen State College in Olympia, Washington.