California Public Employees Retirement System, the nation’s...

California Public Employees Retirement System, the nation’s largest public pension fund with $80 billion in assets, named Sheryl Pressler chief investment officer.

Pressler currently directs the $5.3-billion pension fund at the St. Louis aerospace giant McDonnell Douglas Corp. At CalPERS, she will succeed DeWitt Bowman, who is retiring after almost five years in the job.

Pressler, who was unavailable for comment, will be responsible for deciding what percentage of assets should go into stocks, bonds and other instruments and for recommending specific investments to the fund’s 13-member board. She will also supervise in-house money managers.

Bowman has seen assets almost double and has been responsible for drastic changes in the fund’s investments. Under Bowman, the fund began investing in international equities and bonds, which now account for about 16% of total assets.