Western Australian Public Sector superannuation fund GESB has appointed Sharon Hicks as its chief investment officer (CIO).
Hicks, who will manage almost $9 billion in a multi-asset, multi-manager investment portfolio, has been acting in the role since previous CIO Paul Edmondson left at the end of January.
His departure coincided with news that five staff members left the fund following an internal inquiry into staff involvement in last year's $6.3 million switching rort.
A total of 15 GESB employees were among 171 members who allegedly took advantage of a lag in unit pricing to switch investments and increase their returns on both rising and falling markets.
A 20-year veteran of the investment market, Hicks joined GESB in 2000 after stints at Hartley Poynton, DJ Carmichael and Co, McIntosh Securities, and Merrill Lynch.
"Sharon has formulated and implemented a number of successful investment strategies at GESB including establishing an Australian and international private equity strategy in 2003, and the recent re-structuring of the $2 billion international equity portfolio," GESB chief executive Michele Dolin said.
GESB has more than 280,000 members.
