POWERED BY MOMENTUM MEDIA
Two board directors step down from Cbus Super.
Two board directors have stepped down from Cbus Super, while one former deputy chair is to return.
Anne Donnellan and Frank O’Grady would both leave the fund’s board after a combined 20 years with Cbus.
Donnellan would be replaced by Australian Manufacturing Workers Union (AMWU) national legal co-ordinator, Abha Devasia, while Construction Forestry Maritime Mining Energy Union (CFMMEU) national construction secretary, Dave Noonan, would replace O’Grady.
Noonan had previously served as deputy chair of the fund but stepped down in January.
Chair, Wayne Swan, said: “As part of the original 1984 campaign that won superannuation for building workers and created the fund, Frank has helped guide the member first focus of not just Cbus, but industry funds in general.
“Anne has been a fearless advocate for members in her time as a director and alternate director. Her knowledge and experience of blue-collar members outside of the construction industry enabled her to make a valuable contribution to the board.”
Regarding the new members, Swan said: “Abha is an advocate at heart and I am excited to see her bring her passion for supporting migrant workers and culturally-diverse communities to the super sector.
“Dave has served as deputy chair of the fund and has a keen understanding of the fund’s operation and the outcomes it delivers for members. His expert contribution on our investment committee has long been valued by our investment leaders.”
Devasia would commence in January while Noonan would re-join the board in April 2023.
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
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.
Bravura CEO Andrew Russell has announced he will be stepping down from the company, just under two years after his appointment.
The $16 billion fund has teamed up with a retirement income product specialist to give its members more confidence to spend in retirement.
The super fund-owned institutional investment manager has appointed an internal candidate as its next head of operations.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
90.28 3 y p.a(%)
2
GAM LSA Private Shares AU I
37.08 3 y p.a(%)
3
DomaCom Lot 21 Chellaston Road Munno Para West SA 5115 Australia
31.44 3 y p.a(%)
4
Fidante Credit Suisse Global Private Equity
31.12 3 y p.a(%)
5
Global X GlobalX FANG+ ETF
28.28 3 y p.a(%)
