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FOR IMMEDIATE RELEASE
December 5, 2023
Contact: Liz Odendahl, Supervisor's Communications Director
O: (213) 974-4444, C: (213) 379-6301, lodendahl@bos.lacounty.gov
Hahn Appoints Former Assemblymember Mike Gatto to Board of Investments
 Los Angeles, CA -- Today, Los Angeles County Supervisor Janice Hahn appointed Palos Verdes Estates resident and former California State Assemblymember Mike Gatto to the Board of Investments for the Los Angeles County Employees’ Retirement Association (LACERA), the largest county retirement system in the United States.
"It is an honor and profound responsibility to be entrusted with ensuring that our retirees obtain safe, secure, and robust returns on their investments. I take that responsibility very seriously, and thank the Board of Supervisors for its trust in me,” said Gatto.
Gatto served four terms in the California State Assembly, where he chaired the Appropriations Committee and served for seven years on the Banking & Finance Committee. He was known for his innovative legislation, including California's Rainy Day Fund, a landmark fiscal solution for stabilizing state revenue during economic downturns. He has advised a wide variety of companies on investment decisions, and serves on the board and helps manage the endowment of the A-Mark Foundation. He previously served as a Congressional Chief of Staff, chaired a commission for three Los Angeles Mayors, and was the Speaker's appointment to the Delta Council.
"Mike is a true public servant. He went to Sacramento to work for his community, and now we’re lucky to have his help to steward the investments that will set up our LA County employees for the healthy retirement funds they deserve. I’m thankful that LACERA will be able to count on his expertise,” said Hahn.
LACERA serves about 188,000 members and has approximately $75 billion in assets under management. The nine-member Board of Investments is responsible for establishing LACERA’s investment policy and exercising control over the investment management of the Fund.
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