California’s State Compensation Insurance Fund, the state’s largest provider of workers compensation insurance, has appointed Peter Guastamachio as its chief financial officer.

He will direct all of State Fund’s financial policies, including financial forecasting, accounting, budgeting and tax reporting.

Guastamachio has been acting CFO since November 2013 and also serves as chief investment officer. During his five-year tenure with State Fund, he has stepped in to lead programs outside of his primary duties as investment officer, serving as chief information officer and also working with the California Department of Insurance and legislators to broaden the organization’s investment authority.

Guastamachio previously served as vice president and assistant portfolio manager for Bank of the West and held a variety of positions with Argonaut Insurance. He also holds a seat on the board of directors for the California Insurance Guarantee Association.

Source: State Compensation Insurance Fund