Calpers CIO Meng quits amid China controversy

California Public Employees' Retirement System (Calpers) announced on August 6 Asia time, August 5 in the US west coast, that Yu (Ben) Meng was resigning as chief investment officer, effective immediately. Ben Meng Meng had been the CIO of the $389 billion asset owner, which is the largest defined benefit pension fund in the US, since January 2019. Meng’s tenure was controversial, tainted by allegations of close ties with China. His departure, though, was precipitated by…