The Future Fund is making several changes to its leadership team in an effort to simplify its structure and strengthen its investment, technology and risk functions. Its chief investment strategist will also leave in April.
Raphael Arndt will continue as chief investment officer, taking responsibility for the investment functions of the chief investment strategist, as well as leadership of the asset class teams. The fund is currently recruiting the newly created role of head of portfolio strategy.
A management update this morning said current Future Fund chief investment strategist Stephen Gilmore will support the transition before leaving the organisation at the end of April 2018. Gilmore joined the fund in 2009; he was appointed head of strategy in 2010 and as a member of the investment committee.
He previously worked in senior strategy roles in London and Hong Kong with AIG Financial Products and Morgan Stanley. Prior to that, Stephen worked with both the International Monetary Fund and the Reserve Bank of New Zealand.
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Among the investment team reshuffle, head of infrastructure and timberland Wendy Norris will take up the new role of deputy chief investment officer for private markets. In this role Norris will oversee private equity, property and infrastructure and timberland. Reporting to Norris are: Head of property Barry Brakey; and head of private equity Steve Byrom.
Head of debt and alternatives, David George, will take up the new role of deputy chief investment officer for public markets. He will oversee listed equity, overlays, debt and alternatives. George's team comprises: Head of listed equity Bjorn Kvanskog; head of market insights and portfolio implications Tanya Branwhite; head of overlays Hugh Murray.
The Future Fund is also hiring for the newly created position of chief technology officer. It calls for a candidate with expertise in IT and investment solutions.
The existing IT team will continue to work closely with the investment team to develop bespoke investment technology solutions to drive investment insights. A global search process will commence shortly, the fund said.
General counsel Cameron Price will add to his responsibilities the role of chief risk officer. This role brings the investment and operational risk, and compliance functions alongside his existing responsibilities in legal services and board secretariat.
Future Fund chief executive David Neal said: "To sustain our success as our portfolio grows we are refining our structure. This will strengthen our collaborative approach and help us to be more nimble and streamlined in the hunt for investment opportunities, the management of the investment portfolio and the creation and use of technology and risk insights."
He added that "implementing these changes will help us stay sharply focused on our task of investing for the benefit of future generations of Australians."