South Korea’s NPS fills CIO vacancy after a year marked by staff exodus


South Korea’s NPS fills CIO vacancy after a year marked by staff exodus – Pensions & Investments

<br /> South Korea’s NPS selects a CIO, the most important of many key roles left vacant since the fund’s early 2017 move to the countryside.Douglas Appell<br /> <br /> <b>Ahn Hyo-Joon</b> has reportedly been named chief investment officer of South Korea’s 643 trillion won ($579 billion) National Pension Service.</p> <p>The appointment filled a vacancy that had stretched for well over a year, a period marked by an exodus of senior investment staff following a government-dictated relocation of the pension giant’s staff at the start of 2017 from Seoul to Jeonju, a rural setting roughly three hours from the capital.</p> <p>NPS’ public relations team didn’t respond to requests for confirmation, but a picture of Mr. Ahn appears on the NPS website, over a statement attributed to him, as chief investment officer, about the challenges the pension fund is facing now.</p> <p>The statement said, in part, that NPS’ investment team — amid the challenges of limiting the fast-growing pension fund’s impact on domestic financial markets while dealing with a low-growth, low-interest-rate environment — will seek to improve investment returns “by proactively seeking new investment opportunities with more diversified portfolios.”</p> <p>Mr. Ahn was president at financial holding company BNK Holdings. A BNK spokesman couldn’t immediately be reached for comment. </p> <p>

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