New Zealand fund's CEO to lead Australia's Future Fund

Paul Costello was named general manager of the Future Fund Management Agency, Melbourne, Australia. The new Future Fund covers the government's unfunded public service pension liabilities. The position is new. Mr. Costello was CEO of the NZ$10.1 billion (US$6.4 billion) New Zealand Superannuation Fund, Auckland, which has begun a search for his successor, according to a news release.