GPIF RENEWS CIO TERM FOR TWO MORE YEARS
Japan’s Government Pension Investment Fund (GPIF) has extended the term of its chief investment officer Eiji Ueda for another two years, effective April 1.
Ueda joined GPIF as CIO on April 1, 2020, taking over from Hiromichi Mizuno. Before joining GPIF, Ueda had worked for Goldman Sachs from April 1991 to December 2019, serving as its co-head of fixed-income commodities and Asia-Pacific securities division.
After Ueda's arrival, the world’s largest pension fund cut allocation to Japanese bonds to 25% from 35%, while increasing the portion of foreign bonds to 25% from 15%. Under his watch, GPIF has recorded gains for seven consecutive quarters.
GPIF ESG HEAD RETIRES
GPIF’s senior director and head of stewardship and ESG Hiroshi Komori has retired on March 31, he announced on LinkedIn on March 30.
Komori joined GPIF in December 2015, and became head of stewardship and ESG in 2016, building up ESG related practices and expertise for the pension fund.
Prior to GPIF, Komori was with Sumitomo Trust Bank (currently Sumitomo Mitsui Trust Bank) for over 25 years in the investor relations and shareholder relations consulting service group.
Komori did not respond to requests for comment and GPIF declined to comment on his successor.
AUSTRALIAN RETIREMENT TRUST HIRES NICOLE BRADFORD FROM CBUS
The newly formed Australian Retirement Trust (ART) has appointed Nicole Bradford as head of sustainable investment. She will be based in Sydney in her new role.
This is ART’s first major appointment since finalising the merger between QSuper and Sunsuper to form the fund on February 28.
It has also been announced that Australian Post Super Scheme will formally merge with the other two funds on April 30 to become part of ART.
Bradford was formerly the global head of responsible investment at Cbus, where she held the position for seven years.
Cbus has not yet replaced Bradford but looks forward to commencing the process to appoint the new global head of responsible investment, a Cbus spokesperson told AsianInvestor, “In the interim, the current Cbus responsible investment team members will report directly to the chief investment officer.”
Prior to working at Cbus, Bradford spent almost 10 years in various environmental risk roles with GE Capital.
CBUS FILLS NEWLY CREATED HEAD OF INVESTMENT OPTIONS ROLE
Cbus, Australia's largest super fund for the building, construction and allied industries, has appointed a head of investment options, a newly created role designed to support the fund's internalisation of the option rebalancing process.
Ciaran McBride has been promoted to the role from within the fund, where he previously served as head of investment analytics.
McBride will be based in Melbourne and will be responsible for ensuring that all investment options are invested to be consistent with their investment strategy, and that their performance the targets of the strategy. He will report to Cbus head of total portfolio management Mark Ferguson.
Cbus previously outsourced that function to its custodian JP Morgan until December 2021.
FORMER POBA CIO BECOMES SENIOR ADVISOR OF LAW FIRM YULCHON
Former chief investment officer of Korea’s Public Officials Benefit Association Jang Dong-hun has joined Korean law firm Yulchon as a senior advisor, starting April 1, according to his LinkedIn profile.
Jang will advise and educate lawyers on asset management in all asset classes including alternatives. He will also engage and build relationships with offshore general partners and limited partners, he told AsianInvestor. Still based in Seoul, Jang will report to lawyer Park Jae-hyun.
Jang has 34 years of experience in Korea’s asset management industry. Most recently he was Poba’s CIO from November 2015 to February 2022.
REI SUPER APPOINTS TWO NEW BOARD MEMBERS
REI Super has added Geoff Peck and Craig Dunstan to its board this month, with Peck joining as the deputy chair.
Peck is an Australian superannuation industry veteran who most notably held the position of head of superannuation solutions at BT Financial Group for over 10 years, concluding the role in 2006. He has also previously worked at Russell Investments, Colonial First State and Chant West. In addition to REI Super, Peck currently sits on the board of Crescent Wealth.
Dunstan has over 35 years' experience in financial services and is currently managing director of Vasco Trustees and chair of Futurity Investment Group. In addition, he is a non-executive director of Federated Hermes in Australia and executive chair of DH Flinders.
Dunstand also previously served as general manager of financial services and chief investment officer at Australian Unity from 1995 to 2002.
Peck and Dunstan replace Michelle Beveridge and Emery Feyzeny on the REI Super board.
FULLERTON FUND MANAGEMENT PROMOTES KEN GOH
Fullerton Fund Management has promoted Ken Goh to chief investment officer (CIO) with effect from April 1, said a company statement.
Based in Singapore, Goh, who was formerly deputy CIO and head of equities, will report to chief executive Jenny Sofian.
He will steer the strategic direction of Fullerton’s investment team, overseeing investment performance for all portfolios across equities, fixed income, alternatives, multi-asset and treasury management.
He has almost 30 years of investment experience managing portfolios and leading teams across different market cycles. At Fullerton, he led enhancements to investment processes and strategies, focusing on an ESG-integrated investment approach.
Before joining Fullerton in 2017, he was previously chief executive of the CIMB Principal Asset Management office in Singapore for almost 10 years. Prior to CIMB, he held various senior positions in APS Asset Management, MeesPierson Private Bank, Allianz Dresdner Asset Management, and Philip Capital Management. He has also worked at the Government of Singapore Investment Corporation (now rebranded as GIC).
He succeeds Patrick Yeo, a veteran of 17 years at Fullerton, who will remain with the firm until September to aid with the transition. The company declined to comment on where Yeo is headed.
PGIM INVESTMENTS HIRES DAVID CHANG
PGIM Investments has hired former Franklin Templeton chief executive David Chang to be its vice chair for Asia, a newly created position, with immediate effect, said a company statement.
Based in Hong Kong and reporting to president and chief executive Stuart Parker, he will oversee the firm’s asset management business in India (PGIM India) and Taiwan (PGIM SITE) and PGIM’s joint venture in mainland China, with partner Everbright Securities.
Chang will also play a key role in building the Asian hub for the company, as well as enhancing its regional presence and focus, and supporting the growth of the global intermediary business in Greater China.
Prior to this, he had spent 20 years at Franklin Templeton holding the position of chief executive and regional head for Greater China since 2007, where he was responsible for driving business across Hong Kong, mainland China, and Taiwan. More recently, he also held the role of senior advisor providing guidance and strategic counsel to the Apac team.
He currently sits on the board of Independent Advisors to the Family Office Association in Hong Kong. He is an independent advisor to the Raffles Family Office in Hong Kong.
Meanwhile, Franklin Templeton has appointed Simon Wong, currently, head of retail sales for Greater China and Alan Young, currently head of institutional business for Greater China as ‘Co-Heads of Hong Kong,’ a company spokesperson informed AsianInvestor.
The two executives, who report to Tariq Ahmad, head of Asia distribution, have been working together since January 2022 to drive both retail and institutional sales in Greater China.