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State Fund is California's largest provider of workers' compensation insurance and a vital asset to California businesses. State Fund supports California's entrepreneurial spirit and plays a stabilizing role in the economy by providing fairly priced workers' compensation insurance making California workplaces safe, and restoring injured workers.




Peter A. Guastamachio, Chief Financial Officer and
Chief Investment Officer

Pete Guastamachio was approved as State Fund's Chief Financial Officer in September 2014 and also serves as Chief Investment Officer. He brings more than 35 years of high-level experience from the financial sector. He joined State Fund on February 23, 2009 as our first Chief Investment Officer. 

As Chief Financial Officer and Chief Investment Officer, Pete is responsible for directing State Fund’s overall financial policies – including financial forecasting, accounting, budgeting, tax reporting and Billing & Collections, and management and oversight for State Fund’s investment portfolio.

Prior to joining State Fund, Pete served as Vice President and Assistant Portfolio Manager for Bank of the West in Walnut Creek, where he helped restructure the bank’s $9 billion investment portfolio. Pete also worked at Argonaut Insurance in Menlo Park, where he reached the rank of Assistant Vice President and Assistant Treasurer/Investment Director. He managed Argonaut’s $1.8 billion investment portfolio, created its cash flow budget and implemented a repurchase (‘repo”) program to improve the liquidity management of Argonaut’s investments and cash.

Pete began his career as an account executive with Dean Witter Reynolds, served as a tax shelter specialist with Sutro & Company, Inc. and as an investment banker with Bangert, Dawes, Reade, Davis & Thom, Inc., all in San Francisco.

Pete is a member of the National Association of Corporate Directors and holds Leadership and Governance Fellowships. He is also a Board member of the California Insurance Guarantee Association (CIGA) and serves on its Audit and Finance committees.

He earned his Bachelor of Science degree from the University of California, Berkeley and an MBA from the Graduate School of Business at St. Mary’s College.

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