Sue Brake was named chief investment officer of Australia's A$162.9 billion ($120.2 billion) Future Fund, effective Wednesday.
Ms. Brake became acting CIO at the start of July as the Future Fund launched a global search to replace Raphael Arndt, after he was promoted to CEO of the Melbourne-based sovereign wealth fund.
As CIO, Ms. Brake will oversee investment strategy for the Future Fund and five other public funds with combined assets of A$210 billion.
Sam Killmier, a senior member of the fund's portfolio strategy team who took on Ms. Brake's previous role of head of portfolio strategy on an interim basis, continues in that capacity, a spokeswoman for the fund said.