The former deputy chief investment of Christian Super has joined the Cook Islands National Superannuation Fund, as it starts an internal investment team.
David Brown commenced as the chief investment officer of the fund this week.
The Cook Islands National Superannuation Fund has about NZ$200 million in total assets, which are managed externally by Russell Investments New Zealand. The fund's chief executive previously had the responsibility for all operations and investments.
The inaugural chief investment officer role reports to the chief executive.
"... [Brown will] lead the development of a new investment team in Cook Islands with a focus on training and development of local resource, leading the fund's diversification into direct investments in Cook Islands infrastructure, and supporting the development of the CINSF board who are all based in the Cook Islands," the fund's chief executive Damien Beddoes told Financial Standard.
Beddoes said the appointment is expected to improve the fund's ability to meets its objectives, with a dedicated focus on the management of its investments.
"The National Fund [sought] an experienced CIO with Pacific exposure, to help the fund establish and develop a strong internal investment resource of local Cook Islanders over the next five years," he said.
"David has commenced with the CINSF and is working through the immigration restrictions as he migrates from Australia to the Cook Islands over the coming month."
Brown has previously worked as the chief investment officer of PNG's National Superannuation Fund (NASFUND), a senior portfolio manager at QIC and the head of private equity at Victoria Funds Management Corporation.
In January last year, he joined Christian Super as a deputy to its then-chief investment officer Tim Macready.