New chair appointed for ART

Australian Retirement Trust (ART) has appointed a new chair in Andrew Fraser as Don Luke steps down.

Fraser, whose appointment was effective from mid-October, was formerly chair of Sunsuper and had served as a director on the ART board since February 2022.

He would replace Luke who was coming to the end of his term as chair. He had previously been chair of QSuper and chief executive of Sunsuper for over 10 years and oversaw the merger between the two funds earlier this year.

He would remain as an independent director until the end of November.

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ART chief executive, Bernard Reilly, said: “Don Luke was integral to the successful delivery of the largest and most complex superannuation merger in Australian history to form ART, leaving a lasting legacy for ART’s two million members. On behalf of the board and executive team I thank Don for his unwavering focus and commitment to acting in our members best interests”.

Fraser said: “It is a great responsibility to chair the board of ART. I am grateful for the trust and confidence of my fellow trustee directors and I very much look forward to continuing to work to grow and guard the retirement savings of the two million Australians who entrust us with their superannuation.”