The chief investment officer of Fonds de Réserve pour les Retraites, the French state pension fund with €33.4bn ($46bn) under management, is leaving to take on a similar role at the French pension scheme for civil servants.

Jean-Louis Nakamura has been chief investment officer of the FRR since 2003. He has taken on a new role as director of the Etablissement de Retraite Additionnelle de la Fonction Publique, or Erafp, the French mandatory pension fund for public sector workers.