The agency must have the knowledge, expertise and experience to source high calibre candidates with "deep and demonstrable" experience in the financial services sector, locally or internationally, it said.
Among other things, it is looking for respondents that have successfully placed at least two chief executives in institutions with "a similar pre-eminence and public profile as the New Zealand Superannuation Fund". The successful applicant must have "the right networks and calibre of people, with the knowledge, expertise and track record of delivering high-end executive search and placement services," it said.
Respondents are to provide their proposed pricing model as part of the proposal, whether as a fixed price or fee rate.
The new chief executive will oversee the $37.4 billion fund, which has had an annual 10.5 percent average annual rate of return since inception, before New Zealand tax and after all costs, and a workforce of approximately 140 people, including 55 investment professionals. While 86 percent of the fund is invested globally, it has $5 billion invested in New Zealand "making it a major presence in the domestic capital markets," it said.
Orr's total pay package was $1.22 million in the 2017 June year, up from $1.06 million in 2016. The Super Fund's salary became a political football early last year when then-Prime Minister Bill English rebuked the manager's board for lifting the CEO's pay in 2016.
-Business Desk