NPS’ investment strategy head offers to quit

His resignation offer came after three executives left the $580 billion pension fund this year, and Hyo-Joon Ahn took office as chief investment officer in early October.

His departure will leave empty three executive positions at the NPS, including heads of domestic equity and domestic alternative investment divisions.

Lee joined the NPS in 2006 and served as acting CIO for three months since July.

As an NPS executive, his loyalty and good understanding of the organization were highly regarded.

NPS plans to reshuffle its alternative investment management divisions divided into domestic and global investments.

It will reorganize them by asset class into real estate, infrastructure and private equity groups.

Meanwhile, NPS has yet to pay out last year’s performance-based bonuses to in-house asset management employees.

NPS has secured a budget of just 4.3 billion won ($3.8 million) out of the planned 11.5 billion won payment agreed in June.

By Chang Jae Yoo

yoocool@hankyung.com