New Zealand sovereign wealth fund NZ Super has appointed two general managers for investment operations and risk management.
Paula Steed, who is currently chief internal auditor at Auckland-based ASB Bank, has been hired as general manager for finance and investment operations, NZ Super says in a statement on April 6.
Mark Fennell, the fund’s general manager for portfolio completion, has been named general manager for risk management.
Both appointments are effective July 5. Steed and Fennell will report to NZ Super Chief Executive Officer Matt Whineray.
Whineray says in the statement that he is “excited” to add Steed to the team and looking forward to “the new ideas and perspectives she will bring”, while Fennell will “contribute significant institutional knowledge and experience” to his new role.
The wealth fund says it will “shortly” begin a search process to fill Fennell’s current position.
NZ Super has approximately NZ$56.4 billion (US$40.04 billion) of total assets currently.