NPS in search for new CIO
29 August 2013
News, Asia, Korea
By Asia Asset Management
Korea’s National Pension Service is currently looking to appoint a new chief investment officer (CIO) to replace Lee Chan-woo, whose three-year term expires in October.
NPS, the fourth largest pension fund in the world, reported fund assets of 392 trillion won (US$352 billion) last year; the new CIO is required to have a demonstrable track record in managing global portfolios in line with the fund’s global strategy of widening its exposure to non-Korean assets and investments.
Applications for the post will close on September 6.
Apart from deep investment experience, prospective candidates are also required to have English language fluency, according to fund officials. NPS reported a return of 6.99% for its total portfolio last year.
Mr. Lee was formerly with Teachers Pension. The search committee is headed by its new chief executive, Choi Kwang; the former minister of health and welfare. Aside from a base salary, a performance bonus is also included in the overall compensation package for the position.
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