FRANCE - Philippe Aurain will become chief investment officer at the French national pension reserve fund (FRR) from tomorrow, replacing Nicolas Sobczak.

Aurain is currently deputy CIO at Fonds de Réserve pour les Retraites but was at one time also head of external asset management, having been with the pension reserve service since 2003.

Officials would not comment on the departure of Sobczak but said Aurain's previous position is not being immediately filled.

Sobczak took up the CIO role in August 2007, succeeding Jean-Louis Nakamura who at the time moved to the French supplementary pension fund for civil servants (ERAFP). (See earlier IPE story: FRR finds new CIO)

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