The Government Employees Pension Service announced on the 4th that it will appoint Son Young-jin, former head of risk management at KB Asset Management, as the new Chief Investment Officer (CIO).
Son, the new CIO, was selected as a final candidate for the CIO position of the Government Employees Pension Service early last month and was finally confirmed after going through a personnel verification process by the Ministry of Personnel Management. His term begins on the 7th.
Son Young-jin, the new head of asset management, is regarded as a financial expert who has worked in the Asset Management Division of Prudential Life (currently KB Life) and served as the head of risk management at KB Asset Management.
The Government Employees Pension Service noted, "Son, the new CIO, is expected to establish investment strategies for approximately 10 trillion won in financial assets of the Government Employees Pension Fund and oversee its management."
Meanwhile, the previous CIO, Baek Joo-hyun, has completed his term as of today.