Sue Brake will take on the role of acting chief investment officer at Australia's Future Fund Management Agency at the start of July.
Ms. Brake will replace Raphael Arndt. On May 7, Mr. Arndt was named CEO of the agency, effective July 1. Ms. Brake currently serves as deputy chief investment officer, portfolio strategy.
Sam Killmier, a senior member of the portfolio strategy team, will step in as acting head of portfolio strategy while Ms. Brake serves as acting CIO, a spokeswoman for the Melbourne-based Future Fund said.
The organization is commencing a global search for a permanent replacement for the CIO role, the spokeswoman confirmed. She declined to say how long the search could take.
The agency oversees six funds with combined assets under management of A$205.4 billion ($126.3 billion) as of March 31, including the A$162.3 billion Future Fund.