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Sovereign Wealth Funds

NZ Super CIO to take on acting CEO role following current chief’s departure in March

Matt Whineray, chief investment officer of the NZ$37.9 billion ($27.6 billion) New Zealand Superannuation Fund, will take on the role of acting CEO with the mid-March departure of long-time chief Adrian Orr to become governor of New Zealand's central bank, according to an announcement Thursday by the sovereign wealth fund.

During that interim period, Mark Fennell, NZ Super's general manager of portfolio completion, will become acting CIO.

The fund's board issued a request for proposals in January for an executive search firm that can conduct a global search for Mr. Orr's replacement. The news release said NZ Super's board anticipates the appointment process will take a “number of months.”

An Auckland-based spokeswoman for NZ Super declined to say if Mr. Whineray is a candidate to replace Mr. Orr on a permanent basis.