Stephen Gilmore was named chief investment officer of the NZ$39 billion ($26.7 billion) New Zealand Super Fund, according to an announcement Wednesday by the Auckland-based sovereign wealth fund.
Mr. Gilmore will take New Zealand Super's investment helm in late February from Mark Fennell, the fund's head of portfolio completion who took on the additional role of acting CIO in February.
Mr. Fennell was standing in for Matt Whinery, who stepped into the role of acting CEO after long-time head Adrian Orr was named head of New Zealand's central bank. Mr. Whinery was subsequently appointed CEO.
Mr. Gilmore comes to New Zealand Super from Australia's A$148 billion ($106.7 billion) Future Fund, where he served as chief investment strategist. That position was eliminated in March after an organizational revamp at the Melbourne-based fund that left Raphael Arndt, the Future Fund's chief investment officer, taking on some of Mr. Gilmore's responsibilities.
The New Zealand Super news release said Mr. Gilmore will oversee a team of 45 investment professionals responsible for appointing and monitoring the fund's external investment managers; direct investments in New Zealand and abroad; and the fund's responsible investment activities and asset allocation, including both macroeconomic strategy and the fund's strategic-tilting program.