Updated with clarification
Eiji Ueda joined Japan's ¥169 trillion ($1.5 trillion) Government Pension Investment Fund, Tokyo, as executive managing director and chief investment officer.
Effective Wednesday, Mr. Ueda replaced Hiromichi Mizuno, who left GPIF Tuesday after a five-year run as CIO, during which time the pension giant become a high-profile player in areas such as climate change and improving alignment of interests with external managers.
Mr. Ueda takes the helm at GPIF as the fund, together with other asset owners around the globe, will be looking to recover from a brutal quarter that saw a number of big stock markets fall 25% to 30% from their recent highs.
GPIF, with roughly 50% of its assets in domestic and overseas equities, could report an estimated decline in portfolio value of ¥20 trillion or more when the fund reports its results for the final quarter of the fiscal year ended March 31, according to Pensions & Investments' analysis.
Mr. Ueda was co-head of Goldman Sach's securities division in Asia. He left the firm at the end of 2019. A Goldman spokesman couldn't immediately be reached for comment.