The Guardians of New Zealand Superannuation, which manages sovereign wealth fund NZ Super, has promoted Paula Steed to chief operating officer, a newly created position in which she will oversee technology, corporate strategy and shared services.
Steed, a veteran of the financial services industry, has worked at the Guardians since 2021, most recently as general manager for technology. The Guardians announced her promotion in a statement on May 13.
“It was important the Guardians continued to focus on efficiency and scalability, given the NZ Super Fund’s value is projected to double over the next ten or so years,” says Jo Townsend, chief executive officer of the Guardians.
NZ Super has around NZ$80.6 billion (US$47.52 billion) of assets.