FNPF APPOINTS ACTING CEO AND CHIEF OPERATING OFFICER

The Fiji National Provident Fund Board announced two senior executive appointments today.

Chief Investment Officer Viliame Vodonaivalu has been appointed Acting Chief Executive Officer while Pravinesh Singh has been confirmed as Chief Operating Officer. These appointments follows Mr. Jaoji Koroi’s notice to leave at the expiry of his contract as CEO, in March.

Mr. Vodonaivalu holds a Master of Applied Finance from the University of Melbourne. Prior to joining FNPF in July 2017, he was the Director Fund Management and Acting CEO for Vanuatu Provident Fund. Mr. Vodonaivalu has extensive experience in Finance and Banking and formerly occupied Treasury Management positions with the ANZ and Westpac banks. He was previously a staff of FNPF from 2006 to 2008 where he held the post of Deputy Chief Investment Officer and CEO for Natadola Bay Resort Limited, a wholly owned subsidiary of FNPF.

FNPF Board Chairman, Daksesh Patel said Mr. Vodonaivalu was influential in successfully closing major investment deals including the acquisition of Sheraton Group of Hotels and shares in BSP Bank, PNG. During Mr. Vodonaivalu’ s tenure as Chief Investment Officer, the Fund attained the highest levels ever of growth in investment portfolio averaging 11.5% totaling $2.8 billion, with a total investment income of $1.97 billion.

Mr. Singh has post-graduate qualifications in Professional Accounting from the University of the South Pacific. He joined the Fund in 2009 as Manager Finance and was appointed to the role of Chief Financial Officer in 2012. He has acted as Chief Operating Officer since July 2020. Prior to joining FNPF, Mr. Singh worked for PricewaterhouseCoopers, KPMG, CMDA & Fiji Television Limited. He is the current President of the Fiji Institute of Accountants.

Mr. Singh has wide-ranging experience in financial reporting, taxation, corporate finance, business planning, projects, strategy management and leadership. He has been instrumental in providing financial leadership and aligning business and finance strategies to grow the Fund. He will lead all operational matters for the FNPF under his new appointment as COO”, says Mr. Patel.

“We congratulate both Mr. Vodonaivalu and Mr. Singh on their appointments, which are effective from Monday, 15th February 2021 when Mr. Koroi proceeds on leave”, says Mr. Patel.

The roles of Chief Investment Officer and Chief Operating Officer are the two Senior Executive positions, which report directly to the CEO. The process of appointing a new CEO is currently underway.