Computershare chief executive, Scott Cameron has been appointed as the new chief executive of the combined Catholic Super and Equip Super.
The funds announced to that the Scott Cameron had been appointed to head the two funds which were joining forces to create one of Australia’s largest not-for-profit superannuation funds.
The announcement said it would be the first time in Australia that two superannuation funds had concurrently had the same CEO.
It said Cameron would take up his position at the two funds in September, before heading the joint company when it begins operating in October.
Equip Super chairman Andrew Fairley said Cameron’s expertise in bringing diverse businesses together made him the perfect candidate to lead the funds through a new era of change and growth.
He said Cameron had experience of significant acquisitions, growth and expansion and had integrated operations and employees across multiple worksites.
Cameron is Chief Executive of Computershare in Australia and New Zealand, a member of Computershare’s global leadership team and a former partner with Ernst and Young.
The two funds have announced the signing of a non-binding MOU to explore a potential merger.
The board must shift its focus from managing inflation to stimulating the economy with the trimmed mean inflation figure edging closer to the 2.5 per cent target, economists have said.
ASIC chair Joe Longo says superannuation trustees must do more to protect members from misconduct and high-risk schemes.
Super fund mergers are rising, but poor planning during successor fund transfers has left members and employers exposed to serious risks.