Steve Bracks has signalled his intention to step down as chair of Cbus this September to pursue a Federal Government appointment as Australian-Consulate general in the US.
Bracks joined the board in early 2009 and helped successfully navigate the fund through a period of uncertainty, Cbus chief executive David Atkin said.
Bracks has also been the director of Cbus property was a former premier of Victoria.
The fund has built its infrastructure and property assets under Bracks including the recent 99 year lease of Port Botany and Port Kembla, the Port of Brisbane and Manchester Airport.
The industry fund will announce a replacement prior to Bracks official resignation.
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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