Doug Carmichael has announced his retirement as chief executive of Commonwealth Bank’s Group Super offering, effective from the end of this June.
Carmichael had led the trustee services team in its service of the group super fund as CEO for the past nine years, during which had had assisted in the development and execution of strategies to achieve member satisfaction, fund growth, and member retention.
Commonwealth Bank had already commenced its search for a new CEO.
The fund has confirmed a reshuffle following its latest decision to combine its ESG and investment governance teams.
The appointment is part of Insignia Financial’s recently announced restructuring of its operating model and executive team.
The fund has named a new chief financial officer and its inaugural chief member officer.
The $1.5 billion fund has welcomed a former Vanguard Australia executive following a board reshuffle.
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