KIC picks Teachers’ Pension CIO as new chief investment officer
Jun 12, 2019 (Gmt+09:00)
NPS to cut global stocks under GP management, up its direct control
S.Korea's LS Materials set to boost earnings ahead of IPO process
Korean PE funds shrink in 2023 for first time in 7 years
Galaxy Ring, new foldables set to steal the show at Samsung Unpacked Paris
POSCO gears up for carbon-free steelmaking with hydrogen
Korea Investment Corporation (KIC) has chosen Dae-yang Park, chief investment officer of the country’s Teachers’ Pension, as new CIO among a dozen applicants, according to investment banking sources on June 11.
The sovereign wealth fund is checking Park’s qualifications and reputation before appointing him as successor of Shinwoo Kang whose three-year term as CIO expired on June 12.
Park scored the highest on interviews and other assessments among four short-listed candidates, including ex-CIO of the Government Employees Pension Service Chang-hoon Lee, the sources added.
Park, an MBA of Iowa State University, has been leading Teachers’ Pension investments as CIO since January 2017. His two-year term was extended by one-year until the end of this year.
If appointed, Park will become KIC’s first chief investment officer who worked as CIO of a pension fund.
“On top of ample experience across asset classes including stocks, bonds and alternative investments, his good command of English will make him the right man for the CIO position of the sovereign wealth fund,” said one of the sources."
Park had worked as a fund manager of Samsung Life Insurance Co. Ltd. and Samsung Investment Trust Management Co. Ltd. At the insurance company, he had a stint in the London office.
At MG Korean Federation of Community Credit Cooperatives, he served as the investment strategy head.
Prior to the Teachers’ Pension, he worked as CIO of formerly Allianz Life Insurance Co. Ltd. (currently, ABL Life Insurance Co. Ltd.)
He majored in business administration at Korea University.
KIC manages $142 billion in assets entrusted by the finance ministry, the Bank of Korea and public funds for overseas investments.
It has recently signed tentative agreements with Korea Post and two national cooperatives to attract part of their cross-border investments.
By Chang Jae Yoo
yoocool@hankyung.com
Yeonhee Kim edited this article
-
Pension fundsNPS to cut global stocks under GP management, up its direct control
Jul 02, 2024 (Gmt+09:00)
-
Pension fundsKorea’s military fund taps ex-president of Woori Financial as CIO
Jun 28, 2024 (Gmt+09:00)
-
Pension fundsKorea's NPS CIO talks with GPIF, GIC execs on asset allocation
Jun 24, 2024 (Gmt+09:00)
-
Foreign exchangeKorea FX authorities, NPS raise currency swap limit to $50 bn
Jun 21, 2024 (Gmt+09:00)