POWERED BY MOMENTUM MEDIA
Super SA CEO steps down
Super SA chief executive, Dascia Bennett, has stepped from the role after five years.
She took over the role in December 2017 from a role as head of customer at NGS Super and had also held roles at Rest and AustralianSuper.
Patrick McAvaney has stepped in as acting CEO while the fund seeks a new CEO.
Bennett had already extended her time at the fund in order to embed Fund Selection in November 2022 that allows South Australian public sector workers to choose if they want to direct their South Australian government employer contributions.
She said: “I have made a difficult personal decision to step down from my role as CE at Super SA, as I felt it was time for me to return to Sydney to be in the same state as my partner who has been incredibly supportive of me in my tenure at Super SA.
“I extended my time with the fund to ensure we had successfully embedded Fund Selection, which was critical for staff and members and I am pleased to leave the organisation in the best possible position having just entered a competitive environment.”
During Bennett’s tenure, the fund was subject to a report by the Independent Commission Against Corruption (ICAC) in September 2022 of its practices, policies, and procedures.
No allegations or evidence of corruption were uncovered, but ICAC felt there were a “number of risks which, if left unaddressed, might enable corruption to occur”.
These included internal corruption risks where staff were unaware of the value of the information they held, insufficient controls to detect information misuse, and a lack of staff intranet for policies and procedures.
As a result, ICAC made 24 recommendations to allow the fund to address these risks arising from human resources, contracts, projects, and information.
“For more than five years, the board and I have focused on modernising the fund, ensuring a robust governance approach, delivering the ICAC recommendations and uplifting its technology capabilities,” Bennett said.
AUTHOR
Laura Dew
Laura Dew is editor at Super Review. Prior to joining SR, she spent five years working at Investment Week in the UK covering asset and wealth management.
Recommended for you
Australian Ethical has named its new head of equities, who previously spent 12 years at Perpetual.
The country’s sovereign wealth fund has unveiled a flurry of changes to its leadership team, including the appointment of a key executive role.
With Damian Graham stepping into a new capacity within the $190 billion super fund ahead of his retirement, a global search is set to commence for his replacement.
Cbus has swiftly promoted Leigh Gavin to chief investment officer only months after naming him deputy, as the fund works towards growing in size and bringing its investment expertise in-house.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom 465 Calder Road Calder
99.46 3 y p.a(%)
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
78.55 3 y p.a(%)
4
BetaShares Crypto Innovators ETF
50.39 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
47.50 3 y p.a(%)
