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"We conducted an extensive global search and considered many talented external and internal investment professionals as part of the competitive recruitment process. Scott is viewed by the institutional investment industry as one of the next generation of top global CIOs. He is a solid and steady investor with both public and private sector experience," Mr. Ailman said. "His investment talents are only one side of the story. Scott also possesses the right temperament and personality to lead a very diverse-and growing-investment team. I couldn't be more excited to team up with him in leading the CalSTRS portfolio into the future."

Mr. Chan comes to CalSTRS from the University of California Regents where he was the senior managing director of its $55 billion global equities portfolio. Prior to his UC Regents tenure, Mr. Chan was the chief investment officer for the $8 billion Sacramento County Employees' Retirement System and a partner and portfolio manager for a number of hedge fund partnerships.

"It is always with mixed emotions when one has to say goodbye and good luck to a superstar. As part of the leadership team, Scott spearheaded efforts to increase our active and passive investments both internationally and in the U.S., while renegotiating an estimated 33 percent reduction in fees," stated UC Regents Chief Investment Officer Jagdeep Bachher. "CalSTRS has landed an innovator and a talented all-around great person."

"I am thrilled to be part of CalSTRS' investment team. I'm joining a great culture with a very cohesive team. Each asset class head is a recognized leader in their field and I look forward to coming into the office every day to learn and work with them," said Mr. Chan.

In addition to numerous awards, including being named on CIO magazine's 2013 CIO Power 100 List, Mr. Chan served on the Investment Committee for Lawrence Livermore and Los Alamos National Labs' retirement plans, as well as on many investment advisory boards for real estate (international and domestic), public equity and alternative investments.

Mr. Chan has a master's in business administration from Fuqua School of Business, Duke University and a bachelor's degree in economics from the University of California, Los Angeles.