Month: July 2023

Each year in July, the Board of Fire and Police Pension Commissioners elects its Officers of the Board to serve one-year terms. On July 20, 2023, the Board elected Sumi Parekh as President and Garrett Zimmon as Vice President.

As President, Commissioner Parekh will exercise the following duties:

• Approve the Board agenda; preside at all Board meetings, ensure that meetings are conducted in an efficient manner and in accordance with the City Charter and Administrative Code, applicable public meeting laws, and relevant Board policies;
• Determine who will act as spokesperson for the System should the need arise; and,
• Approve the travel expenses incurred by the General Manager and the Board.

As Vice President, Commissioner Zimmon will assume the duties of the Board President when the President is absent or if the President should delegate the Vice President to act. The Vice President will also assume the duties of the President if the President becomes unable to carry out their duties.

Congratulations to Commissioners Parekh and Zimmon as they begin their new roles with the Board!

Los Angeles Fire and Police Pensions (LAFPP) is pleased to welcome new Chief Investment Officer Bryan Fujita. After an extensive search for a new Chief Investment Officer (CIO) by EFL Associates, General Manager Joseph Salazar selected Mr. Fujita as the new CIO replacing Ray Joseph, who resigned from LAFPP in May 2022.

Bryan will lead LAFPP’s investment team managing nearly $30 billion in assets. He brings over 22 years of both public and private investment experience to LAFPP, serving the last 10 years as the Deputy Chief Investment Officer at the Los Angeles City Employees’ Retirement System.

Mr. Salazar shared, “I am delighted to welcome Bryan to our executive team and am confident that he will enhance LAFPP’s Investment Program amidst a constantly evolving economic environment, with the ultimate goal of serving and protecting the retirement benefits of the Plan’s public safety members.”

Previously, Mr. Fujita served as Corporate Treasury Associate at the Walt Disney Company, managing equity and fixed income investments of the company’s then $4.5 billion pension fund. He also served as Client Banking Investment Executive and Assistant Vice President of Wealth Management at Wedbush Securities, managing investment portfolios for high net worth clients.

About LAFPP

Los Angeles Fire and Police Pensions is dedicated to administering the defined benefit retirement plan for all sworn (Fire, Police, and certain Port Police and Airport Police) employees of the City of Los Angeles. The fund is currently valued at over $29.4 billion in assets and serves over 26,600 members and beneficiaries.

EFL Associates

Daniel Cummings of EFL Associates assisted LAFPP in the nationwide search for the CIO.