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First State Super CIO retires
First State Super chief investment officer, Mark Sainsbury has announced his retirement.
The successful merger of First State Super with Health Super included the re-alignment of investment structures which has resulted in Sainsbury's retirement which will be effective in May.
Sainsbury said of his departure that he was proud of the development of First State Super into one of the industry's pre-eminent super funds with $38 billion under management.
"With a well-developed and evolved investment philosophy, an impressive mix of investment professionals, and strong management and board support, I know that the investment division will continue to respond to the constantly challenging and demanding investment environment," he said.
First State Super chief executive, Michael Dwyer thanked Sainsbury for his contribution.
"Mark was one of the original designers of the member investment choice features of First State Super back in 1992, and has, since he re-joined in 2005, continued to maintain a significant contribution to the scheme's growth and success," he said.
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