Wayne Swan has taken over as chair of Cbus Super, following his appointment last August.
The former Federal Treasurer took over from previous chair Steve Bracks, who had sat on the board of the superannuation fund for 13 years.
“I am determined to ensure the fund continues to deliver excellent outcomes for members. The super landscape is changing constantly, and I will continue Steve’s ambitious agenda for fund growth to ensure members continue to benefit from economies of scale and the very best investment opportunities,” he said.
Joining him on the board would be Michelle Beveridge, who would also chair the audit and finance committee, and Jason O’Mara who would take over from Anthony McDonald and deputy chair Dave Noonan.
Beveridge was formerly independent director of REI Superannuation fund from 2017-2021 and was also chief information officer and chief operating officer at Intrepid Travel.
Meanwhile, O’Mara was a workplace safety campaigner and ACT secretary for the construction, forestry, maritime, mining and energy union (CFMEU).
Australia’s second largest super fund has added thermal coal companies to its list of investment exclusions.
The fund has expanded its corporate superannuation solutions to partner with Australian businesses of all sizes.
The chief executive of Aware Super anticipates a significant shift in how ESG factors will influence portfolio values in the next six years, surpassing the changes witnessed in the past two decades.
In a recent statement, shadow assistant minister for home ownership and Liberal senator for NSW, Andrew Bragg, accused ‘big super’ of fabricating data attributed to the Reserve Bank of Australia to push their agenda.
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