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Matt Whineray to Serve As Interim Chief At NZ Super

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The Board of Guardians of the New Zealand Superannuation Fund (NZ Super) appointed chief investment officer Matt Whineray to serve as the sovereign fund’s acting head in mid-March of 2018 following the exit of current chief executive Adrian Orr, who will be beginning his five-year term as Governor of the Reserve Bank of New Zealand. A lawyer by training who spent his early career in investment banking at Credit Suisse and First NZ Capital, Whineray is well positioned to capitalize on the Fund’s stellar performance in 2017. He will be celebrating his 10-year-anniversary at NZ Super in May.

The search for Adrian Orr’s replacement officially began in January 2018, and is expected to take a number of months to complete, with submissions coming from around the globe. Mark Fennel, general manager of portfolio completion and longtime veteran at NZ Super, will take up the duties of chief investment officer for the duration of the recruitment process, according to a press release.

An accomplished economist with extensive experience in public sector finance, Adrian Orr took the helm at NZ Super in 2007, and has earned a spot numerous times in the Sovereign Wealth Fund Institute’s Public Investor 100 annual ranking over the years, most recently in 2017 at #3.

Saudi Arabia Sends Second Installment of Aid to Pakistan

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On December 14, 2018, Pakistan received its second installment of the US$ 3 billion in aid promised from Saudi Arabia on October 23, 2018. The US$ 1 billion given on December 14th boosted the foreign reserves of the State Bank of Pakistan, which went from US$ 7.2 billion to US$ 8.2 billion. The first installment was given on November 23, 2018. The last installment is expected to occur in January 2019.

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White House Nominates Heath Tarbert for CFTC Chairman

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The White House announced Heath P. Tarbert will be nominated to serve as Commissioner and Chairman of the Commodity Futures Trading Commission (CFTC). Tarbert currently serves as Assistant Secretary for International Markets at the U.S. Treasury Department. Before joining the U.S. Treasury, Tarbert was a Partner at law firm Allen & Overy. Tarbert was confirmed by the U.S. Senate for his current Treasury post at 87 (yes) to 8 (no).

Upon Senate confirmation, Tarbert’s CFTC term would start on April 14, 2019 and last for five years. Tarbert is taking over from J. Christopher Giancarlo whose term ends in April 2019. Tarbert will need a U.S. Senate confirmation to take the head CFTC post.

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KIA Could Sell Stake in North Sea Energy Business

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The Kuwait Investment Authority (KIA), through its unit Wren House Investment Management, is nearing a deal to sell a 40% stake in its North Sea energy business to JPMorgan Asset Management. In July 2018, KIA closed on a deal to acquire oil and gas pipeline firm North Sea Midstream Partners from ArcLight Capital.

More details to follow –

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