Philippe Aurain was named chief investment officer of the €33.3 billion ($45 billion) Fonds de Reserve pour les Retraites, Paris, effective April 1, according to a news release.
Mr. Aurain, currently the plan’s financial deputy director, will replace Nicolas Sobczak. In a telephone interview, Mr. Sobczak said he was leaving to join a Paris-based fund manager but declined to provide further information. Mr. Sobczak has been CIO at the plan since August 2007.
FRR officials could not be reached for details about whether Mr. Aurain will be replaced.