CFA Society Sacramento

2016 - 2017

President
Dianne Sandoval, CFA
CalPERS
Dianne is a Portfolio Manager at CalPERS and a member of the Asset Allocation and Risk Management team responsible for the development of strategic asset allocation targets with the CalPERS Board.  Prior to joining CalPERS, Dianne worked in High Yield/Distressed Debt Sales and Trading at Morgan Stanley in London and in private equity and mergers and acquisitions at JP Morgan in New York and in Mexico City.  Dianne earned an MBA from IESE in Spain and a BS from the University of California, Berkeley's Haas School of Business. Dianne is a CFA charterholder and Vice President of the CFA Society Sacramento.



 Vice President
Joseph Niehaus, CFA
Rabobank
Joseph “Joe” Niehaus is a Treasury Financial Analyst for Rabobank, N.A., where he assists in managing financial risks and collaborates on asset/liability management. Joe has worked as a bank examiner for both the public and private sectors and served five years as an Electronic Intelligence Analyst with the U.S. Navy. Joe earned an MBA from the University of Nebraska, Lincoln and a BS in Business Administration from California State University, Sacramento. He is a CFA charterholder and is the co-Social Chair of the CFA Society Sacramento, responsible for social events and the annual golf tournament.



Secretary
James Campbell, CFA 
CalPERS 
James Campbell is a Senior Research Analyst with the California Public Employees Retirement System, where he conducts investment research on the energy sector as part of the fund’s global fixed income investment management group.  Previously, he was a Senior Financial Analyst at Southwestern Energy Company in Houston.  James received his Bachelor’s degree from Thomas Aquinas College and an MBA from University of California, Davis, and is a CFA Charterholder.


Treasurer
Mihaela Curiel, CFA
CalPERS

Mihaela (Miha) Curiel is an Investment Officer in the Private Equity team at CalPERS. Miha has held various positions at CalPERS including fixed income securities trading, investment operations, and investment business analysis. Miha received her Bachelor’s degree in Finance, Risk Management and Insurance from California State University of Sacramento. She is a CFA charterholder.

Director
Roy Clothier, CFA
CalSTRS
Roy Clothier is an Investment Officer with the California State Teachers’ Retirement System where he helps oversee the System’s Securities Lending and External Currency Management programs.  He has an MBA in Financial Management from City University and a BA in Finance and Quantitative Methods from the University of Washington.  Roy is a CFA charterholder and serves as Membership Chair for the CFA Society Sacramento.


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Director
Jane C. Delfendahl, CFA
CalPERS
Jane Delfendahl is a Portfolio Manager at CalPERS, managing real estate investments primarily in the international sector.  Prior to CalPERS, Jane worked as a financial controller for Waste Management in Italy.  She earned her MA from the Johns Hopkins University School of Advanced International Studies and a BS from UC Berkeley. Jane is a CFA charterholder and Co-Chair of programs for the CFA Society Sacramento.


Director
Wilbur Chan, PhD, CFA
CalPERS
Wilbur Chan is an Investment Officer at CalPERS and a member of the Asset Allocation and Risk Management team, where he performs research on strategic and tactical asset allocation. Prior to working in the Asset Allocation and Risk Management group, Wilbur worked in the Quantitative and Research Group in the Fixed Income team at CalPERS. Wilbur received his PhD in Biomedical Engineering from McGill University in Montreal, Canada. Wilbur is a CFA charterholder and Co-Chair of programs for the CFA Society Sacramento.



Director
Rafael Garcia, CFA
CalPERS
Rafael Garcia is an Operational Risk Officer at CalPERS and is responsible for implementing and managing the Operating Events and Escalation process, overseeing the development of the Investment Office’s Operational Risk Assessment framework and building the contracts oversight and monitoring team. He is a non-voting member of the Investment Office’s Operating Committee and QIR/Derivatives Committee.  Prior to CalPERS, he was an auditor for the California Bureau of State Audits. He received a BA in Economics and Political Science from the University of California, Davis. He is a CFA charterholder and responsible for the Chair of industry relations/volunteer management for the CFA Society Sacramento.


Director
Paul Cheng
CalPERS
Paul Cheng is an Investment Officer on the Infrastructure team at CalPERS. Prior to CalPERS he was on the global metals and mining equity research teams at Deutsche Bank in New York and Citigroup in San Francisco. Paul earned his MBA from the University of Southern California and BA from the University of California, Los Angeles. Paul is the co-Social Chair of the CFA Society Sacramento.

Director
Lan Liu, PhD, CFA
California State University, Sacramento
Lan Liu is an Associate Professor of Finance in the College of Business Administration at California State University, Sacramento. She received her PhD in finance and MSc in economics and finance from the University of Warwick in England. Her research interests include theoretical and empirical portfolio risk management and forecasting, portfolio performance evaluation and asset pricing anomalies. Lan is a CFA charterholder and serves as the Treasurer of the CFA Society Sacramento.

Director
Liliya Kamalova, CFA
CalPERS

Liliya Kamalova is an Investment Officer in the Private Equity group at CalPERS. Prior to that, she was a Private Equity Analyst at LP Capital Advisors (now part of Altius Associates). She began her career at Citigroup in Moscow after completing the securities analysis training program. Liliya is a CFA charterholder and received her bachelor’s degree with honors in Financial Management from the Russian Presidential Academy of National Economy.