Gary Steinberg, chief investment officer of the International Monetary Fund, is joining Nigerian private equity firm CBO Investment Management, said a CBO news release Monday.
Mr. Steinberg, who will be based in London, has been CIO for the IMF’s $20 billion portfolio for six years. Before that, he was CIO of Wellcome Trust and CEO of British Petroleum's £12 billion ($18.3 billion) U.K. pension plan.
Bex Nwawudu, managing partner of Lagos-based CBO, said in a statement that Mr. Steinberg’s experience “will help considerably as we seek to build a leading investment manager for Africa.”
Mr. Steinberg ’s replacement at IMF is Myles Brennan, who joined in August. Before that, Mr. Brennan was director of investment management at The World Bank.