Australia-based sovereign wealth fund Future Fund has promoted David George from director in the organisation’s debt and alternatives team to head of debt and alternatives, following Mitchell Stack’s resignation in November 2012.
George has been with the sovereign fund since 2008, and will be responsible for managing and overseeing its portfolio in debt and alternatives.
He will be based in Melbourne, and will report to chief investment officer, David Neil.
The sovereign fund “undertook a global search” in a bid to find the right candidate to fill Stack’s role – six months later, the fund manager decided to promote George. “He has been instrumental in designing and building the debt and alternatives portfolio and stood out as the best candidate to lead the team,” explained Neil.
The sovereign fund managed $82 billion of assets as of December 2012.