The Executive Superannuation Fund has appointed Equity Trustees as trustee and custodian.
It comes at the same time as Equity Trustees created the superannuation trustee office, to which it has appointed John Rodd.
Rodd was previously chief financial officer at Equipsuper and has 30 years financial services experience.
His role includes compliance and superannuation license requirements, and driving business in the trustee for partnership sector.
He will report to the head of private wealth services Geoffory Rimmer, and will be supported by seven team members in Sydney and Melbourne.
Equity Trustees’ appointment as custodian brings total superannuation fund assets in Equity Trustees’ corporate responsible superannuation entity (RSE) business to $2.2 billion.
The Actuaries Institute has released a framework to help super funds deliver affordable guidance and advice to millions approaching retirement.
Labor’s finance minister has dismissed claims the government directs super fund investments after questions over Australia’s new US deal.
Australia’s average superannuation balance has climbed to a record high, with women’s savings share rising and reliance on the age pension falling.
APRA has softened several governance reform proposals following extensive consultation with banks, insurers, and super funds across Australia.