The Guardians of New Zealand Superannuation, manager of the New Zealand Superannuation Fund, has appointed Brad Dunstan and Will Goodwin as joint Chief Investment Officers, effective 2 December 2024.

The announcement follows a global search to replace former CIO Stephen Gilmore, who left the Guardians at the end of June.

Guardians CEO Jo Townsend said Mr Gilmore’s departure had created an opportunity for the Guardians to review the way the investment team was structured.

“Taking into account the projected future growth of the Fund and the increasingly complex and challenging investment environment in which we are operating, it makes sense to combine the functions of the CIO and the GM Portfolio Completion and create a co-CIO model,” Ms Townsend said.

Mr Dunstan and Mr Goodwin, currently the Guardians’ Acting GM Portfolio Completion and Head of Direct Investments respectively, have both been with the Guardians for several years.

Ms Townsend said the two men’s broad experience had been a tremendous asset to the Guardians’ management of the Super Fund, and the new structure would enable the Guardians to get the very best out of their complementary skills and expertise.

Alex Bacchus will continue as Acting CIO until the new structure is implemented.