New CIO for New Zealand Super | Chief Investment Officer

(June 17, 2014) — New Zealand’s Superannuation Fund has appointed Matt Whineray as its first-ever CIO.

The 44-year-old has worked at the NZ$25 billion (US$22 billion) fund since 2008, when he joined as general manager of private markets. He will vacate the role of general manager of investments to take over as CIO.

In his new position he will take charge of a 35-person team and be responsible for all investment and asset allocation decisions.

Whineray was previously head of financial sponsor coverage for non-Japan Asia at Credit Suisse in Hong Kong. He has also worked at First NZ Capital as managing director and at Credit Suisse First Boston in New York.

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“Matt brings integrity, leadership skills and intellectual strength to the newly created CIO role, and has a strong team of investment professionals to motivate,” said CEO Adrian Orr. “His appointment as CIO is important to the ongoing success of the fund.”

The New Zealand Superannuation Fund was recognised at the top sovereign wealth fund in aiCIO‘s Class of 2012 Industry Innovations awards.

(June 17, 2014) — The second largest Dutch pension investor has created a fiduciary arm to enhance its services to its current clients and its offering to smaller peers, aiCIO has learned, as consolidation accelerates among the country’s pension funds.

PGGM Fiduciary Advice “enables our clients to be in control of their investments and exert countervailing power towards their investment managers,” the group said.

PGGM manages more than €167 billion on behalf of PFZW, the pension fund for the healthcare and social work sector in the Netherlands, and the pension funds for general practitioners, architects, security personnel, and house painters.

Last year PGGM announced the merger with A&O Services, which oversaw retirement assets for the house painting and decorating sector. It recently picked up the aiCIO award for innovation thanks to its “Blank Sheet of Paper” concept to governance that clarifies its investment approach along with its interaction with its largest client PFZW.

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There has been a push in the Netherlands to bring smaller pools of assets together and create larger investors, which have scale, to bring in-house better experience and expertise and manage capital in a cost efficient way.

Chris Limbach, one of aiCIO’s Forty Under Forty, heads up the fiduciary arm. “By adding the fiduciary advice to what we had already, we have progressed our proposition to pension funds,” he said. “It should make PGGM a more attractive proposition for pension funds that are looking to partner with another.”

Limbach said PGGM is keen to be part of the consolidating Dutch market. He added that the new service would not be made available as a stand-alone product for funds, but rather as part of the package offered to investors and their trustees joining PGGM’s cooperative network.

“Combining advice, execution, and fiduciary advice allows trustees of pension funds to be in total control,” Limbach said. “Obviously, any fund that wants to join us could be up to speed and compliant with regulations set out by the regulator, the Dutch National Bank.”

For an in-depth look at the Dutch pension market, sign up for this publication’s digital magazine—published next week.

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