Dianne Sandoval joined HESTA, the Melbourne-based industry superannuation fund, as head of portfolio design, effective Oct. 2.
Sandoval replaced Stephanie Weston, hired in 2020 as HESTA's head of portfolio design. Weston left HESTA last year and joined pension provider PGGM in the Netherlands in July as its head of client portfolio analysis and management. PGGM managed €229 billion ($249.3 billion) in assets as of June 30.
Sandoval will be responsible for helping the A$74 billion ($47.2 billion) fund achieve its investment objectives, according to a statement on Tuesday. She will oversee research and asset allocation processes, portfolio risk management and portfolio performance.
"With her deep knowledge, strategic thinking, and results-driven approach, Dianne is positioned as a trusted leader in the investment management industry, and we're delighted to welcome her expertise to the team," CEO Debby Blakey said in the statement.
"Throughout her career, Dianne has played an important role in creating and implementing innovative investment strategies alongside robust policies and compliance measures that have helped achieve impressive results," she added.
Sandoval will join from the Public Investment Fund in Saudi Arabia where she led the markets, asset classes and portfolio strategy team for two years. Before that, she spent 12 years at the California Public Employees' Retirement System in Sacramento, rising from a credit analyst to an investment manager for asset allocation and risk management.
A PIF spokesperson did not immediately provide information about her replacement. PIF has roughly $700 billion in assets.