California News

U.S. Lawmaker Calls For CalPERS CIO To Be Fired Over Ties To China

U.S. News-


A U.S. Republican lawmaker on Wednesday urged California to fire the chief investment officer of its public pension fund, the nation’s largest, citing what he called the CIO’s “long and cozy” relationship with Beijing, and assailed the fund’s investments in Chinese companies.

In a letter to California Governor Gavin Newsom, U.S. Representative Jim Banks of Indiana said Yu Ben Meng, the CIO of California Public Employees’ Retirement System (CalPERS), should at least be investigated.

“Governor Newsom, if it were up to me, I would fire Mr. Meng immediately,” Banks wrote in the letter.

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