The New Zealand Superannuation Fund has appointed a chief operating officer, effectively joining up the previously separate investment operations and corporate services divisions.
Mark Fennell, who is company secretary of the Warehouse Group, will join the fund as chief operating officer commencing July 16. Reporting to him will include the head of operations, Peter Bennie, whose investment operations unit includes two investment operations managers and a portfolio manager. The corporate services division includes the head of strategic projects and IT, Glenn Read, the head of communications, Karine Fox, and office administration and management, who all previously reported direct to the chief executive, Adrian Orr. Also reporting to Fennell will be head of risk, Mark Thomas, who currently reports through to finance. However, the head of responsible investments, Anne-Maree O’Connor, will continue to report directly to Orr, as does the chief investment officer, Paul Dyer. The Warehouse Group is a large New Zealand discount department store operator. It sold out of Australia late in 2005. NZ Super had $NZ12.1 billion under management as at February 28.
The brunt of losses from the LA wildfires are expected to be borne by primary insurers and high-risk reinsurance programs, but super funds are nevertheless closely monitoring the possible impact of the fires on catastrophe bond and insurance-linked securities exposures.
Simon HoyleJanuary 17, 2025
