NZ Super's chief executive resigns

The head of the NZ$60 billion New Zealand Superannuation fund Matt Whineray has resigned and will leave at the end of the year.

Whineray has spent 15 years with the fund with five of those years spent as chief executive.

He will be working with the board to bed down several major initiatives which, with NZ Super expected to double in size to more than NZ$120 billion in the next decade, aim to set the Guardians up for the next phase in its evolution.

The sovereign wealth fund was recently recognised by Global SWF as the best-performing sovereign investor globally, over the last ten years.

Announcing his decision, Whineray said he was proud of his team's stewardship of the NZ Super, which has seen global recognition for the fund's strong investment performance, its work in responsible investing, and reporting and transparency.

"With a strong workplace culture developed by successive leaders and a clear purpose - sustainable investment delivering strong returns for all New Zealanders - the Guardians has successfully met the many challenges it has faced as a long-term investor over its first 20 years," he said.

"I am confident that the team is well placed to meet new challenges - and take advantage of new opportunities - as they arise."

Whineray was promoted to the top job in 2018 after serving as investment chief for four years.

NZ Super's current investment chief Stephen Gilmore - who has been in that role for four years - spent nine years at the Future Fund ,most recently as chief investment strategist.

The former Morgan Stanley executive director also worked for the International Monetary Fund for two years.

"His {Matt's} legacy will be his commitment to high performance, his commitment to our people and his commitment to sustainable investment," said Catherine Drayton, chair of the Guardians.

"He will be sorely missed," she said.

"The board appreciates Matt's preparedness to stay through to Christmas as we search for his replacement."

In a LinkedIn post,  Whineray stated that he was not leaving NZ Super to take up a new post but looks forward to having some time to think about what's next.

"I intend to continue my interest in the sustainable finance space."

He is a former co-chair of the Sustainable Finance Forum (NZ)