June 21, 2021

Communications & Stakeholder Relations
Contact: Megan White, Information Officer
(916) 795-3991 - newsroom@calpers.ca.gov

SACRAMENTO, Calif. – Chief Executive Officer (CEO) Marcie Frost today announced that CalPERS has named Marlene Timberlake D'Adamo as its first chief diversity, equity, and inclusion officer (CDEIO), effective immediately. Timberlake D’Adamo has been serving dual roles as chief compliance officer and interim chief diversity, equity, and inclusion officer since June of 2020.

“CalPERS has a longstanding commitment to diversity, equity, and inclusion (DEI) and this new position will help us implement a systemwide approach to DEI efforts. We serve a diverse population of members and our workforce and operations should reflect the same,” Frost said. “Marlene is a seasoned executive who is passionate about this work and thoughtful in her approach to developing our DEI framework presented to the CalPERS board in March. Under her leadership, CalPERS will strengthen its commitment to DEI.”

Under the direction of the CEO, the CDEIO will work across the enterprise and the Investment Office to foster a culture of equality, respect and inclusiveness. The CDEIO will partner with the environmental, social, and governance investment team to help identify and analyze emerging DEI issues and opportunities supported by sound investment methodology and academic research that may impact the CalPERS portfolio.

Timberlake D’Adamo will guide CalPERS DEI framework, the employee Diversity Advisory Council, and also work with the CalPERS Health Program and contracting health plans to survey and measure outcomes and customer satisfaction using race, ethnicity, and gender identity data.

A recruitment to replace her as chief compliance officer will begin immediately.

Timberlake D’Adamo joined CalPERS in April 2016 as chief compliance officer, responsible for all aspects of the Enterprise Compliance Division. She brought more than 25 years of finance and investment experience to that role.

Prior to joining CalPERS, Marlene served in a number of other leadership capacities in the finance and compliance field, including managing director, senior vice president, Portfolio & Risk Management at PNC Bank in Philadelphia; chief compliance officer of Glenmede Investment Management; and vice president of the Glenmede Trust Company.

She is a former board member to the Committee of 70 and the Economy League of Greater Philadelphia, both located in Philadelphia.

Timberlake D’Adamo holds a bachelor's degree, magna cum laude, from Seton Hall University, and Juris Doctor degree from the Beasley School of Law, Temple University.

About CalPERS

For more than eight decades, CalPERS has built retirement and health security for state, school, and public agency members who invest their lifework in public service. Our pension fund serves more than 2 million members in the CalPERS retirement system and administers benefits for more than 1.5 million members and their families in our health program, making us the largest defined-benefit public pension in the U.S. CalPERS' total fund market value currently stands at approximately $466 billion. For more information, visit www.calpers.ca.gov.