Justin Pascoe, chief investment officer of Melbourne, Australia-based Victorian Funds Management Corp., will be stepping down after eight years in that role “to spend more time with his young family,” said a news release.
A search to fill the position is underway, said CEO Lisa Gray in a telephone interview.
Mr. Pascoe will continue to oversee VFMC's A$51.9 billion ($38.9 billion) in client assets through the transition to the next CIO.
VFMC, set up in 1994 to provide investment and fund management services to public authorities in the state of Victoria, was managing A$27.7 billion in insurance assets and A$20 billion in superannuation assets as of June 30, as well as A$4.2 billion for “other clients,” according to the company's website.
Ms. Gray said the next CIO will be working on a “strategy refresh,” focused in part on strengthening the organization's risk analytics capabilities to “build resilience in investment performance” in a market environment where low returns could prevail for years to come.
In pursuit of that goal, a new role of head of digital and technology will be created, according to the news release.