Electricity Industry Superannuation Scheme (EISS) board has appointed Peter Siebels as its new independent chairman, ending an extensive recruitment campaign.
Siebels will serve as chairman for three terms from March 2015, taking over from Mark Day who has been in the role the last 13 years.
Prior to this, Siebels was the Chairman of Partners of KPMG's Adelaide office and the KPMG National Managing Partner — Private Enterprise, and held directorships with Business SA and the State Theatre Company.
In a statement the Board said they were pleased with the appointment.
"The Board is confident that Peter has the experience and enthusiasm to lead the Scheme through any challenges and opportunities that it may face in the next few years."
A member body representing some prominent wealth managers is concerned super funds’ dominance is sidelining small companies in capital markets.
Earlier this month, several Australian superannuation funds fell victim to credential stuffing attacks, which saw a small number of members lose more than $500,000.
Small- to medium-sized funds have become collateral damage in an "imperfect" model for super industry levies, a financial institution has said.
Big business has joined the chorus of opposition against the proposed Division 296 tax.