New Zealand Superannuation Fund, Auckland, appointed Jo Townsend as chief executive officer to lead the NZ$70 billion ($43.2 billion) sovereign wealth fund, effective in April.
Townsend will join from Funds SA, Adelaide, the A$40 billion ($26.5 billion) South Australian government-owned corporation, making her the first CEO appointed from outside the wealth fund since 2007.
She will join the fund in April and Paula Steed will continue as acting CEO until then.
Steed has been the acting CEO since December when Matt Whineray stepped down after 15 years with the fund. She will return to her role as general manager of strategy and shared services.
Funds SA announced in January that Townsend will leave her position as CEO, a role she held for eight years. The board is going through a selection process for her successor, the announcement said.
Townsend previously held senior roles at the A$80 billion REST Industry Super, Sydney, including general manager for investment and acting chief operating officer.
