Innes McKeand was named as CIO in the equities department at Abu Dhabi Investment Authority, joining from Universities Superannuation Scheme Investment Management, London.
An ADIA spokesperson confirmed the move.
McKeand will start early next year at the Middle East’s largest sovereign wealth fund by assets. The fund has estimated assets of almost $1 trillion.
Whether the role is new could not immediately be learned.
ADIA managed 64% of its assets in-house as of Dec. 31, and its long-term strategy portfolio equities allocation target range as of that date was 32%-42% developed markets equities and 7%-15% emerging markets equities.
McKeand was head of equities at USSIM, the in-house manager of the U.K.’s largest pension fund, with £77.9 billion ($98.3 billion) in assets as of March 31. He joined the fund from AustralianSuper, Melbourne, where he was head of equities.
Angus Parker, head of developed market equities, replaced McKeand as head of equities, a spokesperson said.
“We thank Innes for his important contribution to USS over the past 3.5 years and wish him well in his future endeavors. We pride ourselves on the strength of the team at USSIM and are therefore delighted to have promoted from within,” the spokesperson added in an email.
USSIM will replace Parker as head of developed market equities with Nitin Anandkar, who currently reports to Parker as a senior portfolio manager, the spokesperson said.
