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The NZ Superannuation Fund (NZS) has confirmed chief investment officer, Stephen Gilmore, has resigned after winning the same position at one of the world’s largest pension funds.
Gilmore will leave the $70 billion plus NZS to assume the CIO gig at the almost US$500 billion Californian government employee pension fund, CalPERs in June.
His departure was reported in US specialist publication, Pensions and Investments, this morning.
The move comes as NZS readies for incoming chief, Jo Townsend, who was named as permanent replacement for Matt Whineray last week.
Gilmore, former chief investment strategist for the Australian Future Fund, took over from Whineray as NZS CIO in 2019 and was reportedly a candidate for the top job that was ultimately awarded to Townsend.
In a statement, acting NZS chief, Paula Steed, said: “Stephen has made a significant contribution to the sophistication of the NZ Super Fund since he joined us in early 2019, a period during which the Fund has grown by more than $30 billion, nearly doubling in size. He has championed the role of new technology in enabling better investment decision-making, brought innovative and disciplined thinking to our investment processes and, as Chair of our responsible investment strategy refresh, has been key to our shift towards a sustainable investment approach.”
CalPERS CIO, Nicole Musicco, quit last September after just two years in the role with her deputy, Dan Bienvenue, assuming the duties in the interim.
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