The California Public Employees’ Retirement System (CalPERS) has appointed Prashant Yerramalli as special advisor to its leadership and board, with plans for him to assume the role of general counsel upon passing the California Bar Examination. Yerramalli’s extensive background includes serving as chief of staff for the U.S. Securities and Exchange Commission (SEC), where he advised on strategy, policy enforcement, operations, and rulemaking. He also held positions at Brookfield Asset Management and law firms Jenner & Block LLP and WilmerHale. Most recently, he was vice president of operations and regulatory affairs at Public.com, an online multi-asset investing platform. ([marketsgroup.org](https://www.marketsgroup.org/news/calpers-taps-former-sec-chief-of-staff-as-special-advisor-future-general-counsel?utm_source=openai))
In his interim role as special advisor, Yerramalli will provide strategic legal guidance to CalPERS leadership and oversee the Enterprise Compliance, Risk and Governance Office, the Information Security Office, and the Equal Employment Opportunity Program. CalPERS CEO Marcie Frost highlighted Yerramalli’s experience in public sector law, corporate governance, and fiduciary responsibility, expressing confidence in his contributions to the organization’s mission of delivering retirement security to its members. ([marketsgroup.org](https://www.marketsgroup.org/news/calpers-taps-former-sec-chief-of-staff-as-special-advisor-future-general-counsel?utm_source=openai))
Yerramalli’s appointment continues a trend of former SEC officials transitioning to significant roles within CalPERS. Matthew G. Jacobs, who joined CalPERS as general counsel in July 2014, previously served in the Department of Justice and the U.S. Attorney’s Office in Sacramento. He was responsible for overseeing the Legal Office, Enterprise Compliance Office, Information Security Office, and Equal Employment Opportunity Program. ([webapps.calpers.ca.gov](https://webapps.calpers.ca.gov/page/about/organization/executive-officers/matthew-jacobs?utm_source=openai))
The appointment of Yerramalli underscores CalPERS’ commitment to leveraging experienced legal professionals with backgrounds in regulatory and compliance matters to navigate the complex legal landscape associated with managing the nation’s largest public pension fund.