People: NZ Super appoints interim CEO; PE firm ZZ Capital gets new chief

Photo by Jeremy Beadle on Unsplash

New Zealand Superannuation (NZ Super) has appointed chief investment officer Matt Whineray as the acting CEO of the pension fund while Chinese tycoon Xie Zhikun-controlled private equity firm ZZ Capital International has appointed Zhang Yun as its new CEO.

NZ Super appoints interim CEO

New Zealand Superannuation (NZ Super) has appointed Chief Investment Officer Matt Whineray as the acting CEO of the pension fund as current CEO Adrian Orr leaves to take up his new role as Governor of the Reserve Bank of New Zealand in March.

In an announcement on Thursday, NZ Super said, the Board of the Guardians of New Zealand Superannuation, the manager of the NZ Super Fund, announced the interim appointment to staff on Wednesday.

Chair Catherine Savage said, the Fund had a strong and experienced leadership team which would manage the transition and continue the Fund’s momentum.

In January the board issued a Request For Proposals for an executive search firm to run the CEO recruitment process and submissions are still being reviewed. There will be a global search and the Board expects the CEO appointment process will take a number of months.

Whineray, who will be acting CEO from mid-March 2018, will be replaced for the period by General Manager of Portfolio Completion, Mark Fennell, who will become acting Chief Investment Officer for the duration of the recruitment process.

Chinese tycoon-backed PE firm ZZ Capital gets new CEO

Chinese shadow-banking tycoon Xie Zhikun-controlled private equity firm ZZ Capital International has appointed a new CEO Zhang Yun as the Hong Kong-based firm’s CEO Michael Cho is leaving the firm after less than two years in the role.

“CHO Michael Minkuk has tendered his resignation as an executive Director, the chief executive officer and the authorized representative of the company with effect from 15 February 2018 owing to relocation due to illness in the family,” a filing at the Hong Kong stock exchange said last week.

The firm further announced Zhang Yun, currently an executive Director, will be appointed as the CEO with effect from Thursday. Zhang, aged 32, joined the company and its subsidiaries in June 2016 as an executive Director, holds several directorships in certain subsidiaries of the group.

The top level change comes at a time when ZZ Capital, according to a Bloomberg report, is learnt to be preparing to dramatically scale back its operations. The report last month said that many senior executives at the firm were negotiating severance packages.

Also Read:

NZ Super reaps better returns with bets on high-growth domestic private firms

NZ Super appoints Del Hart as external investment head

Chinese shadow-banking tycoon’s PE firm ZZ Capital said to scale back ops

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.