Japan’s Government Pension Investment Fund (GPIF) has appointed Eiji Ueda as its executive managing director and chief investment officer.
His term started on 1 April, following the departure of Hiromichi Mizuno, and will end 31 March 2022.
Ueda joined Goldman Sachs in 1991 and had been co-head of fixed income, currencies and commodities since 2009.
In 2016, he also began to serve as board director of Goldman Sachs’ securities division.
Ueda has taken on the role at the $1.5trn (€1.38trn) fund during a time when the coronavirus has wracked havoc in the markets.
According to an estimate by Nomura Securities, the fund took a ¥18trn (€153bn) hit in the first quarter of the year, Nikkei Asian Review reported.
This would bring the total result for the last fiscal year, which ended 31 March, to minus ¥8.6trn — the first annual loss in four years, Nikkei stated.