POWERED BY MOMENTUM MEDIA
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
The super fund announced that Gregory has been appointed to its executive leadership team, taking on the fresh role of chief advice officer.
The deputy governor has warned that, as super funds’ overseas assets grow and liquidity risks rise, they will need to expand their FX hedge books to manage currency exposure effectively.
Super funds have built on early financial year momentum, as growth funds deliver strong results driven by equities and resilient bonds.
The super fund has announced that Mark Rider will step down from his position of chief investment officer (CIO) after deciding to “semi-retire” from full-time work.
TOP PERFORMING FUNDS
ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
1
DomaCom DFS Mortgage
76.97 3 y p.a(%)
2
Global X 21Shares Bitcoin ETF
76.46 3 y p.a(%)
3
UBS Solactive Global Pure Gold Miners UCITS ETF Dis USD
51.13 3 y p.a(%)
4
Global X GlobalX FANG+ ETF
45.15 3 y p.a(%)
5
Select Baker steel Gold Institutional
43.78 3 y p.a(%)
