The chief executive of Funds SA, the $40 billion investment corporation owned by the Government of South Australia, will step down later this year.
Jo Townsend had worked as CEO for eight years, having joined the organisation from her role as acting chief operating officer at Rest.
She said: “My decision to step down from the CEO role has not been an easy one, and is very much taken from a personal perspective.”
“It has been an absolute privilege to lead this great organisation and work with so many dedicated people who genuinely enjoy what they do and understand its importance.”
She would stay at Funds SA until a replacement was found.
Chair, Paul Laband, added: “Over the past eight years Jo has led the transformation of Funds SA during some challenging times. Jo is highly regarded by the board and we thank her for her leadership, contribution and dedication over that time.
“During this period, the team has expanded significantly, investment capabilities have been broadened across all asset classes, and Funds SA has repositioned and strengthened its brand. We are looking to continue the strategic direction that Jo has been instrumental in developing.”
Funds SA was the investment corporation owned by the Government of South Australia, managing investment portfolios on behalf of South Australia’s public sector super funds and approved public authorities across a range of different sectors.
