Several pensions and foundations announced shifts in leadership in December. Senior investment professionals moved to other institutions, and interim executives were named. Here are the top institutional investment moves in December:

Adrian Orr, chief executive officer of the New Zealand Superannuation Fund, is departing the $37 billion sovereign wealth fund to become the next governor of the Reserve Bank of New Zealand. Orr will take up his new responsibilities as central bank governor from Grant Spencer, the bank’s former head, on March 27, 2018.

Paul Williams, chief investment officer of Texas County & District Retirement System, is retiring in 2018 after more than two decades at the pension. Casey Wolf, managing director of the Texas County & District Retirement System's hedge fund and opportunistic credit portfolios, was named as Williams’ successor and will helm the $29 billion pension fund.

The Ford Foundation announced the appointment of Roy Swan as director of its mission investments team, and will begin his new position on Jan. 4, 2018. Prior to his appointment at the $12 billion foundation, Swan served as managing director and co-head of Morgan Stanley’s Global Sustainable Finance team. 

The Pension Protection Fund named Purna Bhudia as head of credit of the £29.6 billion fund. Prior to the appointment, Bhudia was previously employed at Friends Life Asset Management/Aviva Investors and Liverpool Victoria Asset Management. Bhudia holds 15 years of experience within the credit markets.

Ron Baker, chief administrative officer of Colorado Public Employees’ Retirement Association, was named as interim executive director of the $48 billion pension. Baker replaces former executive director Gregory W. Smith, who passed away in December 2017. Smith served for five years as the fund’s executive director, and worked at the pension for more than 15 years. Baker will serve until a permanent executive director is appointed.

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