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U.N. Joint Staff Pension Fund selects new CIO Toru Shindo Toru Shindo was named chief investment officer of the $80.3 billion United Nations Joint Staff Pension Fund, New York. Mr. Shindo, who is currently deputy director, global equities, for the pension fund's office of investment management, will take on the role of CIO in June, UNJSPF spokeswoman Regina Oliveira said in an email. He replaces Herman Bril, who had the title of director of the investment management division. Mr. Bril joined Arabesque Asset Management as its CEO earlier this year, according to that manager's website. Ms. Oliveira said the CIO title is new. Mr. Shindo will solely oversee the investment management of the pension fund without the responsibilities overseeing independent risk management, compliance, operations and back office the director role included, she said.
The United Nations is looking for a new chief investment officer to head its investment management division, which works on behalf of its Joint Staff Pension Fund — just months after an internal audit revealed accusations of a "toxic" workplace environment in the office. The job listing comes after a tumultuous year for the complex $80 billion pension, which also faced a major resignation and investment volatility amid the coronavirus pandemic. A spokesperson for the pension said via email that at the end of November 2020, the UN announced that its current CIO, Herman Bril, will leave at the end of the first quarter of 2021 after nearly five years in that role. Under Bril's tenure, the value of the fund's assets increased by more than 50 percent, the spokesperson added.