Japan Pension Hiring Two Executive Directors In Light of New Law

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Japan’s Government Pension Investment Fund (GPIF) – the world’s largest pension fund – will be adding to its senior leadership after legislation passed this week that mandates the fund hire two executive directors.

From the Japan Times:

A law was enacted Friday to increase the number of executive managing directors at Japan’s Government Pension Investment Fund from one to two, to strengthen the organization of the giant public pension fund.

One of the two will be current GPIF executive managing director and chief investment officer Hiromichi Mizuno, who will take charge of investment. The other, to take charge of general affairs, is likely to be appointed from the Health, Labor and Welfare Ministry.

The legislation passed the House of Councilors after having already cleared the House of Representatives.

The change is designed to provide stronger support for GPIF President Takahiro Mitani.

GPIF manages approximately $1.1 trillion in assets.

 

Photo by Ville Miettinen via FLickr CC License

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