Rest unveils interim CIO duo as replacement search commences

The $89 billion fund has named co-chief investment officers following the resignation of Andrew Lill earlier this month. 

Rest has appointed two of its senior investment leaders to share the responsibilities of chief investment officer (CIO) on an interim basis as the search begins for a permanent replacement for Andrew Lill, who recently announced his resignation.

Having joined in 2020 as the fund’s inaugural CIO, Rest said earlier this month that Lill would be stepping down to explore other opportunities.  

Now, Simon Esposito, head of private markets and deputy CIO, and Kiran Singh, Rest’s head of listed assets, will jointly take up the CIO role in addition to their current duties.

According to the fund, a comprehensive process to appoint a permanent CIO is already underway, with the duo set to commence in their new interim roles once Lill departs in November.

Chief executive officer Vicki Doyle said the two interim appointees were a testament to the strength of Rest’s leadership.

“Simon and Kiran are highly skilled investment professionals and leaders with the experience to carry on the strong foundations Andrew has built within the team in service of our 2 million members,” Doyle said.

“As well as their deep knowledge of investing across private and public markets, Simon and Kiran both have an in-depth understanding of Rest’s whole-of-fund investment approach and our member-centric investment portfolios.”

Namely, Esposito joined Rest in 2014 and has served in a variety of roles with a primary focus on Rest’s fund and direct investments across unlisted property, infrastructure, agriculture and private equity assets.

Previously, he was a senior member of the Super Investment Management team, Rest’s wholly owned investment management company, which was integrated into Rest’s investment team in 2020.

Meanwhile, Singh joined Rest in May 2021 with responsibility for its listed equities, fixed income and credit asset classes, encompassing both internally and externally managed strategies.

According to the fund, he has also overseen the establishment and development of Rest’s first internal global equities function.

Earlier this month, Doyle thanked Lill for his contribution as inaugural CIO for the fund.

“I want to recognise and thank Andrew for the work he has done to create a strong foundation for the investments team in alignment with Rest’s unique member profile,” she said.

“His accomplishments include improved performance, strong team diversity and industry leadership in responsible investing.

“The impact of Andrew’s efforts will continue to serve Rest’s 2 million members as we move forward towards our strategic goals.”