AIST hires new chief
The Australian Institute of Superannuation Trustees (AIST) has appointed Tom Garcia to chief executive.
Garcia replaces long-standing chief Fiona Reynolds who left the industry body in January to pursue a new position as managing director of the London-based United Nations Principles of Responsible Investing (UNPRI)
Garcia has held the role of AIST's executive manager of policy and research for the past two years.
AIST president, Cate Wood said he had been fundamental in driving AIST's advocacy on superannuation reforms, governance, adequacy and other issues affecting the not-for-profit sector.
"He has a deep understanding of the superannuation landscape and the board is confident he will build on the success of AIST as a vocal and influential peak body for Australia's $500 billion not-for-profit sector," she said.
Garcia has had a strong presence at government roundtables, at Stronger Super committees and as a witness before Parliamentary committees, AIST said.
He previously worked in financial planning, marketing and engineering and served as a senior manager at Industry Fund Financial Planning for four years.
Garcia said he looked forward to his new role and ensuring policy outcomes were in the best interest of members.
"As we've seen in the past few weeks, Australians are increasingly concerned about the future of their retirement savings and how policy changes affect them.
"In addition to implementing the Stronger Super reforms this year, the industry must focus on working together with government, regulators and other stakeholders to ensure that the policy settings of our retirement system are both sustainable and equitable over the long term," he said.
Garcia will now meet with AIST member funds to discuss their requirements and interactions with AIST's member services.
AUTHOR
Staff Writer
Money Management staff writers are writers who contribute to the website from time to time. If you would like to discuss the content contained within this article please contact us.
Recommended for you
Introducing a cooling off period in the process of switching super funds or moving money out of the sector could mitigate the potential loss to fraudulent behaviour, the outgoing ASIC Chair said.
Widespread member disengagement is having a detrimental impact on retirement confidence, AMP research has found.
Economists have warned inflation risks remain elevated even as the RBA signals policy is sitting near neutral after its latest hold.
Australia’s superannuation funds are becoming a defining force in shaping the nation’s capital markets, with the corporate watchdog warning that trustees now hold systemic importance on par with banks.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
225.31 3 y p.a(%)
2
Loftus Peak Global Disruption Fund Hedged
120.73 3 y p.a(%)
3
Global X 21Shares Bitcoin ETF
72.47 3 y p.a(%)
4
Paradice Australian Mid Cap A
69.09 3 y p.a(%)
5
Global X Ultra Long Nasdaq 100 Complex ETF
61.94 3 y p.a(%)
