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NZ Super Fund names acting chief investment officer

The Guardians of NZ Superannuation (Guardians) has appointed Alex Bacchus as acting chief investment officer.

Bacchus joined the super fund in 2009 and has held various roles in the risk and asset allocation teams.

Since 2014, he has led the super fund's strategic tilting programme, a mean reversion investment strategy that has made a significant contribution to the fund's returns.

Prior to joining the Guardians, Bacchus worked for Goldman Sachs JBWere (NZ) as director of derivatives and as a vice president at Merrill Lynch in London, with a focus on structured credit derivatives.

Current chief investment officer Stephen Gilmore leaves the fund this month to take up the role of chief investment officer at CalPERS, the largest pension plan in the US.

Gilmore said he was appreciative of his time with the fund and looks forward to celebrating its future success.

"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," he said.

"The Guardians of NZ Superannuation has an inspirational purpose and is, in many respects, world leading."

Prior to joining the NZ Super Fund in 2019 Gilmore was the chief investment strategist at Future Fund from 2009 to 2018. He has also worked at Morgan Stanley and the International Monetary Fund.

Guardians chief executive Jo Townsend, who took up her role in April this year, said the process of recruitment for a permanent chief investment officer would begin shortly and a further announcement could be expected in due course.

Read more: Guardians of NZ SuperannuationNZ Super FundAlex BacchusStephen GilmoreFuture FundGoldman SachsInternational Monetary FundJo TownsendMerrill LynchMorgan Stanley