Future Fund appoints two deputy CIOs

11 October 2023
| By Laura Dew |
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The Future Fund has appointed two new deputy chief investment officers in a management shake-up. 

The sovereign wealth fund said this is designed to “enhance collaboration and complement the Future Fund’s unique ‘joined up’ approach to investing as well as further build the investment team’s ability to respond to changing investment markets”. 

Hugh Murray has been appointed as deputy chief investment officer and his reports will include the heads of dynamic asset allocation, strategic opportunities and integration, overlays and Treasury and economics and capital markets. 

As well as this, current deputy CIO Alicia Gregory will look after alternatives and listed equities as well as her existing reports of credit and private equity. 

Chief investment officer, Ben Samild, said: ““The investment landscape has changed significantly in recent times, so there is a corresponding need to re-design how we work as an investment function in this new environment.

“The refreshed structure that we are introducing today represents an evolution in how we operate to leverage the strengths and capabilities of the investment team.

“It is designed to provide role clarity, encourage cross-team collaboration and empowers our teams to make critical investment decisions.

“Having benefitted from being able to consult extensively with colleagues since my appointment as CIO, I feel confident that these changes will enhance the way we work as a high-performing, joined-up investment team.

“Importantly, we have the structure in place to be able to meet our investment mandates both now, and well into the future.”

The sovereign wealth fund is also in a period of shake-up on its Board of Guardians with treasurer Jim Chalmers announcing new board appointments. This has included the appointment of Macquarie Group veteran, Mary Reemst, to the board for a five-year term. 

It is also likely to gain a new chair as current chair Peter Costello has indicated he will not be standing for a new term when his current tenure expires next February. Costello was first appointed to the fund in December 2009. He was named acting chairman in January 2014 and chairman with effect from February 2014 for a five-year term. 

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