Home » World News » California pension fund investment chief, under pressure from congressman, resigns
California pension fund investment chief, under pressure from congressman, resigns
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The chief investment officer of the nation's largest public pension fund resigned Wednesday after less than two years on the job.
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CalPERS and its former CIO Yu "Ben" Meng have been under pressure from Rep. Jim Banks, R-Ind., about ties to China since earlier this year. Meng is leaving "to focus on my health and on my family and move on to the next chapter in my life," he said in a statement.
SEN. HAWLEY DEMANDS MICROSOFT CUT BYTEDANCE, CHINESE COMMUNIST PARTY TIES IN POTENTIAL TIKTOK BUY
"Not only did CalPERS increase its investments in Chinese Communist Party affiliated companies while Yu Ben Meng was at the helm, we have now learned he was personally invested in companies with ties to the Chinese Communist Party," Banks told FOX Business in a statement. "The United States government must do more to stop the flow of U.S. capital to companies affiliated with the state party and the Chinese military."