Mr. Aisake Taito is now the new Chief Executive Officer of the Fiji National Provident Fund.

The announcement was formally made today by the Fund’s Board Chairman Mr. Peceli Vocea, after the Minister for Finance and National Planning Mr. Mahendra Chaudhry, gave his endorsement following submission from the Board.

Mr. Taito has been acting in the position since April 2007 after being seconded from the Ministry of Finance where he was a Deputy Secretary, responsible for the government’s Financial Management and Treasury, which also covers the implementation of financial management reform initiatives in Government.

"With Mr. Taito’s solid managerial experience and strong background in economic and finance, and wide exposure in relevant fields, we believe that he is the right choice to assist the Board in instituting further changes and reforms in FNPF.

Mr. Taito has delivered exceptionally well over the last year, given the challenging period the Fund had gone through.

“With more empowerment given to Mr. Taito, the Board’s and the Fund’s effectiveness will further increase. I believe Mr. Taito has the right and very able management staff that can assist the Board to elevate the institution to new heights, and to be a more competitive superannuation services provider,” Mr. Vocea said.

"The Fund is now moving into a phase in which it is focusing its energy and resources on improving governance, risk management , project management and Customer Services as it prepares for the challenges ahead.

The Fund therefore needs a forward-looking and dynamic personality at its helm. The Board sees these qualities in Mr. Taito,” Mr. Vocea said.

The FNPF commissioned PriceWaterhouse Coopers to conduct the recruitment process; which was completed last month.

Mr. Taito holds a Master in Business Administration degree with (Finance/Economics) from Australia. He also holds a Bachelor of Arts (Economics) fromthe University of the South Pacific.

He spent two years working for the World Bank in Washington DC as a Senior Adviser to the South East Asia Constituency.

"I am honored with this appointment and thank the Board for the confidence they showed in me. I look forward to working with the Board and the organization’s team of diverse and skilled professionals. I am confident that with the stewardship of the Board we will take the Fund to new heights, Mr. Taito said.

"I believe the organization’s move towards practicing all aspects of good corporate governance and instituting a Change Management initiative must be encouraged given that the Fund is entrusted with millions of dollars of members’ savings.”

Mr. Vocea said Mr. Taito’s contract with the Board is currently being worked at.