NZ Super to get co-CIOs

The New Zealand Super Fund has opted for joint chief investment officers following the departure of chief investment officer, Stephen Gilmore.

The Guardians of the fund announced today that they had appointed Brad Dunstan and Will Goodwin as joint CIOs with the appointments becoming effective from 2 December, this year.

The announcement said the appointments had followed a global search to replace Gilmore who left the fund at the end of June.

Commenting on the decision, Guardians chief executive, Jo Townsend said Gimore’s departure had created an opportunity for a review of the way the investment team is structured.

“Taking into account the projected future growth of the Fund and the increasingly complex and challenging investment environment in which we are operating, it makes sense to combine the functions of the CIO and the GM Portfolio Completion and create a co-CIO model,” Townsend said.

Dunstan and Goodwin, currently the Guardians’ Acting GM Portfolio Completion and Head of Direct Investments respectively, have both been with the Guardians for several years.

Townsend said the two men’s broad experience had been a tremendous asset to the Guardians’ management of the Super Fund, and the new structure would enable the Guardians to get the very best out of their complementary skills and expertise.

The announcement said Alex Bacchus will continue as Acting CIO until the new structure is implemented.