Paula Steed will be the acting chief executive officer of the New Zealand Superannuation Fund, Auckland, the fund said in a statement on Dec. 4.
She will be in the position until a permanent CEO is put in place. The search for a permanent replacement is progressing well and an appointment is expected to be made this year, the statement said.
Steed is currently the general manager of strategy and shared services, where she is responsible for the strategic development, finance, tax and investment operations teams. She joined the fund in 2021 and has 25 years of experience in financial services and banking.
She replaces Matt Whineray, who will be leaving the fund on Dec. 8, the statement said. The fund announced in May that he would be stepping down after 15 years with the firm.
The fund celebrated its 20th anniversary in November, and announced that it returned a 9.5% rolling average, after costs and before taxes, since its inception. The fund was given NZ$15.7 billion ($9.4 billion) in net government contributions in 2003, which have since grown to NZ$64.4 billion.
