From $73b to $830b: US pension plan poaches Kiwi

Stephen Gilmore will manage more than 300 investment professionals. (Image: Supplied)

Wed, 03 Apr 2024

Stephen Gilmore, the chief investment officer of the New Zealand Superannuation Fund, has been poached to take up the same role at the California Public Employees' Retirement System (Calpers), the US's largest pension plan with US$494 billion (NZ$830b) in funds under management.NZ Super Fund acting CEO Paula Steed said the fund would be sorry to lose Gilmore but it was an exceptional career opportunity.His base salary, not including fund performance incentives, will be US$718,750, Calpers said.Gilmore will relocate to the US in late Jun...

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