Australia's sovereign wealth manager the Future Fund on Thursday named Raphael Arndt as its chief executive officer, effective from July 1.
Arndt, who has been Future Fund's chief investment officer since 2014, will take over from acting CEO Cameron Price.
Price temporarily took the helm after former boss David Neal resigned in February. (https://bit.ly/3dpoXim)
Before joining Future Fund in 2008 as head of infrastructure and timberland, Arndt worked as an investment director with Hastings Funds Management and also held infrastructure policy positions with the Victorian Department of Treasury and Finance.
The Future Fund invests public asset funds on behalf of the Australian government.
It was set up in 2006 with contributions of A$60.5 billion ($39.05 billion) from government surpluses and proceeds of the privatisation of telecommunications operator Telstra Corp Ltd <TLS.AX>.
A process for the appointment of a new chief investment officer to replace Arndt will start in due course.
(Reporting by Nikhil Subba in Bengaluru; editing by Barbara Lewis)
