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GEPS to appoint its new CIO soon Final interview result to be announced on May 27

Translated by Ryu Ho-joung 공개 2022-05-26 08:10:44

이 기사는 2022년 05월 26일 08:03 더벨 유료페이지에 표출된 기사입니다.

South Korea’s Government Employees Pension Service (GEPS) will appoint its new chief investment officer later this week, bringing an end to a two-month long search for a head who will manage the pension fund’s 8 trillion won ($6.3 billion) assets.

GEPS interviewed six or seven candidates shortlisted for the final recruiting process for the role on May 20, according to a source familiar with the matter. The result will be announced on May 27.

The timeline was delayed from the original plan as GEPS decided to take additional time to check references for the candidates who applied for the position. As a result, the term of the pension fund’s new CIO will begin on May 30, about two weeks later than the original date of May 13.

Seo Won-joo, the current CIO of GEPS, stepped into the role in 2019. Under his term, the pension fund diversified its portfolio by expanding investment in alternative assets to enhance returns.

GEPS gained 9.56% in 2019, the first year of Seo’s term, and logged 11.41% and 9.7% returns in 2020 and 2021 respectively.

Seo’s next move is also drawing attention, especially given his successful track record at GEPS. Some expect him to apply for a CIO role at other pension funds or mutual aid associations in the country. (Reporting by Gyoung-tae Kim)
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