Calpers, the largest US pension fund, has said that three internal candidates - Christy Wood, Curtis Ishii and Mike McCook - are among those in the running to succeed Mark Anson as chief investment officer. Anson starts on Thursday as chief executive of UK-based activist fund, Hermes.

Calpers has hired Atlanta-based Fiderion Group to conduct an executive search for outside candidates, which is expected to take about six months.