Industry fund HESTA has appointed Dianne Sandoval as its head of portfolio design, responsible for the research and asset allocation processes to reach investment objectives.

Sandoval will commence in the role on 2 October and will also oversee the rebalancing and currency overlays, manage portfolio risk, and evaluate portfolio performance.

Sandoval has more than 30 years of investment management experience and has worked at financial institutions in the Middle East, the United States, Europe, and Latin America. She most recently led the markets, asset classes, and portfolio strategy team at Saudi Arabia’s Public Investment Fund (PIF).

Before PIF, Sandoval held senior roles in asset allocation, private equity, and credit at American public pension fund CalPERS for over 12 years.

She has also worked at Morgan Stanley, JP Morgan, and GE Capital.