First State Super CIO steps down

First State Super has announced its chief investment officer (CIO) will step down from his role and will be replaced by the investment team leader at StatePlus as acting CIO.

Richard Brandweiner would step down from his CIO role to join the leadership team of the global impact investment firm, Leapfrog Investments.

First State Super chairman, Neil Cochrane, said the move came as the firm was looking to develop a role within impact investing.

"Following our recent purchase of StatePlus, First State Super now controls one of the largest pools of capital in Australia and this presents new opportunities for growth," he said.

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"In keeping with this industry position and the values of our organisation and members, we are keen to establish a leadership role within impact investing."

"For Richard, this unique opportunity aligns with his personal mission to make a difference through investing."

First State Super chief executive, Michael Dwyer, said the firm wanted to work with Brandweiner and the LeapFrog team to develop investments that delievered financial and social outcomes on a global scale.

He was pleased Graham had agreed to act as CIO while the firm undertook an industry-wide search for a permanent replacement.

Graham would join the First State Super investment team on 22 August, while Brandweiner would continue with the fund as an executive investment consultant to ensure transition.

His consultation period would end in December.