The Future Fund has announced the appointment of Richard Brandweiner as its new CIO, who is set to commence in the role on 1 July.
He succeeds Ben Samild, who left last September to take up a role at the Abu Dhabi Investment Council. Hugh Murray, the Future Fund’s deputy CIO, will remain interim CIO until Brandweiner commences mid-year.
Future Fund CEO Raphael Arndt said he was “delighted” to welcome Brandweiner to the sovereign wealth fund, while thanking Murray for his service in an interim capacity.
“[Brandweiner] is an experienced investor and executive and has significant experience in leading investment teams to achieve their mandates,” Arndt said.
Having previously served as Pendal CEO from 2018 to 2023, Brandweiner has spent over 30 years across all asset classes in the investment management industry. Previous stints also include a four-year term as CIO at First State Super, as well as serving the role of group executive at Perpetual.
On joining the sovereign wealth fund, he said its purpose, investment approach and capabilities are globally respected.
“I look forward to working with the team and the Board of Guardians to continue to deliver strong risk-adjusted returns for Australia,” Brandweiner said.
In recent years, he has also served on a number of investment committees and boards, including as chair of Impact Investing Australia.
His appointment at the Future Fund comes alongside his decision to step down from the Australian Ethical Investment (AEI) board, which he joined in September 2024 and will leave on 4 May this year.
Commenting on his departure, AEI chair Steve Gibbs thanked Brandweiner for his contribution and service to the ethical fund manager.
“It has been a privilege to serve on the Board of Australian Ethical during a period of significant growth and capability building for the organisation,” Brandweiner said.
“I’ve always believed that investing can and should deliver both positive returns and positive impact, so it was a real privilege to support an organisation that walks the talk in this respect, and I leave confident in its long‑term direction and continued ability to deliver positive outcomes for members, investors and the wider community.”
The move also follows the Future Fund’s announcement earlier this month that it would review 10 roles as it seeks to cut up to $15 million in costs over the next couple of years, signalling a pullback from the expanded operating footprint built during its post-pandemic push into data, technology and internal capability.
