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San Diego unveils WG Trading fraud, CIO quits


San Diego County Employees' Retirement Association trustees are once again questioning how another bad hedge fund investment has sparked another round of negative headlines. At the same time they are looking to replace the $7 billion pension fund's chief investment officer. David Deutsch resigned following the uncovering of alleged fraudulent fund managers Paul Greenwood and Stephen Walsh, who ran companies including WG Trading and Westridge Capital Management.

Deutsch resigned after five years with the county pension fund and the search for his replacement is now under way. Prior to joining SDCERA, Deutsch was