Chief Investment Officer Stephen Gilmore will leave the Guardians of NZ Superannuation at the end of June 2024 to take up the role of Chief Investment Officer at CalPERS, the largest pension plan in the United States with USD494 billion under management.

Chief Executive Officer (Acting) Paula Steed said: “While we are sorry to lose Stephen, this is an exceptional career opportunity for him, and we wish him well.”

“Stephen has made a significant contribution to the sophistication of the NZ Super Fund since he joined us in early 2019, a period during which the Fund has grown by more than $30 billion, nearly doubling in size. He has championed the role of new technology in enabling better investment decision-making, brought innovative and disciplined thinking to our investment processes and, as Chair of our responsible investment strategy refresh, has been key to our shift towards a sustainable investment approach. These enduring changes have helped to position us well to manage the ongoing growth in the Fund.”

Mr. Gilmore said: “It has been a great privilege and pleasure to have been able to work with such a talented and dedicated team over the past five years. The Guardians of NZ Superannuation has an inspirational purpose and is, in many respects, world leading. I look forward to celebrating its future successes.”

ENDS