Marcie Frost
The Steward
Legacy, values and the long now, leadership as care and continuity.
Marcie Frost embodies The Steward archetype throughout this interview, consistently anchoring every strategic decision to the long-term welfare of CalPERS's 2.3 million beneficiaries. She frames the organization's 75% funding status not as a management failure but as a multigenerational obligation requiring disciplined actuarial planning and portfolio stewardship.
“And again, I think if you are embracing failure in a way that people can learn from it, they will take a little bit more risk. But I will tell you, there is a bit of a risk aversion simply based on the fact that we are so public.”
“And then we have a leadership group who is open to those conversations about, okay, that's a great idea. This is a new set of eyes on this particular issue. Let's invite that innovation and that creativity.”
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“Of course, there's Pimco. We had Maddie Roman, the CEO of Pimco on earlier in the year. Really fascinating conversation. And I did touch base with him. And he had a question for you, which was getting on to my local versus global.”
Money Maze Podcast: “Managing the Largest Public Pension Fund in the U.S. - With CalPERS CEO, Marcie Frost”
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