Chairman of Nambawan Super, Mr Reg Monagi, announced that on Monday 8 February Mr David Kitchnoge has stepped into the position of Chief Investment Officer (CIO), the Fund’s top investment job.
Mr Kitchnoge is a well-respected and experienced professional who brings close to 20 years’ experience in PNG’s financial sector to the role.
“Mr Kitchnoge is a seasoned investment professional who established his career with more than 10 years at big 4 firm, Deloitte.”
“He followed this with 6 years gaining diverse experience with some of PNG’s biggest businesses including as Head of Research & Advisory with Kina Funds Management, the Licensed Investment Managers for Nambawan Super.”
“Appointing David in 2020 as Deputy CIO was planned to allow time for upskilling and knowledge transfer through a well-managed transition,” Mr Monagi said.
Mr Kitchnoge, known as Kitch to his peers across PNG’s investment and financial sector, was appointed to a succession role of Deputy Chief Investment Officer in early 2020. The announcement of Kitch’s appointment went viral on social media with the post reaching more than 40,000 people and generating an astonishing 8,500 post engagements.
“Nambawan Super’s Chief Investment Officer is a big job, responsible for an ever-growing pool of capital, invested in assets worth more than K8 Billion, that are the savings of the 200,000+ members who expect their retirement savings to grow.
“I am confident David is ready for the role and this important position in PNG’s financial sector,” Mr Monagi said.
Mr Monagi also thanked Mr Dominic Beange who has worked for the Fund for the past two and half years, initially as a consultant before being appointed as CIO for 2-years.
“Dom had the task to both safeguard and grow member savings, and find a talented, local replacement.
“He has been actively working to upskill investment professionals in PNG during his time with the Fund, but also for more than 5 years before joining Nambawan Super in senior roles with Kina Bank and Nasfund,” Mr Monagi said.
“Dom won’t be leaving Nambawan Super yet, but has committed to stay on as a Senior Investment Consultant, providing important legacy knowledge and ongoing expertise and support, to ensure a smooth transition.”
Mr Kitchnoge hails from East Sepik and Morobe provinces. He described himself as a teacher’s son, who knows what superannuation means for members and that this opportunity to protect and grow essential retirement savings for everyday Papua New Guineans is both humbling and satisfying.