Eiji Ueda has been appointed at Japan’s ¥169 trillion ($1.5 trillion) Government Pension Investment Fund, Tokyo, as executive managing director and CIO, effective April 1. Ueda succeeds Hiromichi Mizuno, who at the end of March finished his five-year term as CIO, during which time GPIF increased its focus on climate change, ESG factors and alignment of interest with external managers. Ueda most recently was co-head of Goldman Sachs’ Asia Pacific securities division.
In addition, Masataka Miyazono joined GPIF, as the pension fund’s new president, also effective April 1. Like his predecessor, Norihiro Takahashi, Miyazono is a former Norinchukin Bank executive. Miyazono most recently was president of Japan’s ¥11.5 trillion ($107 billion) Pension Fund Association.
GPIF has also unveiled its five-year plan, which includes a mid-term strategy and a new policy portfolio. The pension giant said it would raise its target allocation for foreign bonds to 25 percent fro
