HESTA appoints former CalPERS veteran

Dianne Sandoval
HESTA - Head of Portfolio Design
Date: 12 September 2023
Position: Head of Portfolio Design
By Elizabeth Fry

HESTA has hired a top investment professional who has held senior roles at America's largest public pension fund and Saudi Arabia's US770 billion sovereign wealth fund.

As head of portfolio design, Dianne Sandoval will lead research, asset allocation, portfolio risk management, and performance evaluation to enhance investment objectives, including overseeing rebalancing and currency overlays.

Dianne has more than 30 years of investment management experience, having worked with financial institutions across the United States, the Middle East, Europe, and Latin America.

Sandoval spent the last two years leading the markets, asset classes, and portfolio strategy team at the Public Investment Fund in Saudi Arabia.

She was responsible for designing and implementing the strategic and dynamic asset allocation processes and measuring the efficacy of investment decisions and processes through performance attribution.

Before joining the Saudi Arabian sovereign wealth fund, Sandoval held a range of senior roles at CalPERS.

During her career, Sandoval has also worked at investment teams at Morgan Stanley, JP Morgan, and GE Capital.

HESTA chief executive Debby Blakey called Sandoval a champion for diversity and inclusion in finance, having founded the CalPERS Women Investment Network and earning a spot as a 2023 Finance Fellow for the Aspen Institute.

"With her exceptional experience and passion, Dianne is going to be an integral part of the HESTA team as we continue to work towards making a difference to our members' financial futures," Blakey said.

"Throughout her career, Dianne has played an important role in creating and implementing innovative investment strategies alongside robust policies and compliance measures that have helped achieve impressive results.

"With her deep knowledge, strategic thinking, and results-driven approach, Dianne is positioned as a trusted leader in the investment management industry, and we're delighted to welcome her expertise to the team."

Commenting on her appointment, Sandoval expressed her enthusiasm for joining HESTA and contributing to the industry fund's continued success.

"I am delighted to be joining HESTA and having the opportunity to help grow its members' long-term super balances while supporting them to face the future with confidence," she said.

"I look forward to supporting HESTA's deep commitment to diversity and inclusion in the industry and leveraging my experience and expertise to drive innovative investment strategies and deliver exceptional outcomes for HESTA's members."