NPS names ex-equity division head as new CIO

The National Pension Service (NPS) appointed Hyo-Joon Ahn, former head of global public market and domestic equity divisions of the $565 billion pension scheme, to the position of chief investment officer on Oct. 8.

Ahn, 55, filled the post after his predecessor Myoun-Wook Kang abruptly stepped down in July 2017.

Investment strategy head Soo-Cheol Lee had acted as CIO since July of this year.

“Chairman Sung-joo Kim concluded that Ahn is the right person to manage NPS assts of over 643 trillion won ($565 billion), considering his expertise, global capability and understanding of the National Pension Service,” NPS said in a statement.

He was chosen among five shortlisted candidates and won welfare minister’s nod of approval.

His two-year term can be extended for another one year.

Just before taking the job, he worked as CEO of BNK Financial Group, a holding company based in the city of Busan. He graduated from Pusan National University’s business administration department, which is also based in Busan.

His brief background is as follows:

- CEO of BNK Financial Group (Nov. 2017 – Oct. 2018)

- CEO of BNK Securities (Feb. 2016 – Oct. 2017)

- CEO of Kyobo AXA Investment Managers, a 50:50 joint venture between Kyobo Life Insurance and AXA Investment Managers. (Nov. 2013 – Jan. 2016)

- NPS domestic equity head (Dec. 2011 – Nov. 2013)

- NPS global public market head (Jan. 2011 – Nov. 2011)

- BEA Union Investment Management (Jul. 2007 – Dec. 2010)

- Fund manager and executive, Daewoo Securities and Daiwa Securities (Dec. 2001 – June 2007)

- Fund manager, ANZ Funds Management (Nov. 1999 – Jan. 2001)

By Chang Jae Yoo

yoocool@hankyung.com