Competition for the chief investment officer role at South Korea’s Police Mutual Aid Association (PMAA) is getting fierce.
According to industry sources, 25 people with experience in pension funds, mutual aid associations and insurance applied during the CIO recruitment process, which ended on August 10, Newsis reported.
The number of applicants totaled seven until last week but 18 came in on the last day, local media said.
The police fund is finding a successor to Lee Do-yoon, who is leaving after completing his four-year term. The new CIO will be appointed through document and interview screening run by an executive recommendation committee and through the approval of the chief of the National Police Agency.
Lee, the current CIO, was appointed in October 2016 and won a second term in October 2018. His term is due to expire in October.
PMAA, established in 1989 to stabilize the lives of police officials and promote their welfare, managed around 3 trillion won ($2.5 billion) as of the end of June. (Reporting by Kyoungho Lee)