Calpers Pension Fund to Tap Gensler Aide at SEC as Legal Chief

The California Public Employees’ Retirement System is eying a senior adviser to former SEC Chair Gary Gensler as its next top lawyer.

Prashant Yerramalli, who left the Securities and Exchange Commission in 2022, will become the general counsel of the largest US public pension fund, so long as he passes the California Bar Examination in February, Calpers said Tuesday. He will serve as a special adviser to Calpers starting in October.

Yerramalli was the SEC’s chief of staff under Gensler and former acting Chair Allison Lee from 2021 to 2022. The agency during Yerramalli’s tenure advanced various environmental, social, and ...