Former Perpetual group executive of superannuation and operations, Michael Miller, has been recruited by Suncorp as chief financial officer of its commercial insurance division.
Miller has taken over from Matt Pearson, who now heads up the commercial claims division.
He had spent nine years at Perpetual filling various roles. Prior to his most recent role at Perpetual, he was the deputy CFO, group finance and had also spent time working with Deloitte in Brisbane, London and Sydney.
Suncorp commercial insurance chief executive officer Anthony Day said Miller had “extensive leadership experience and a broad financial services background.”
“The breadth of his financial services experience is a valuable addition to our leadership team,” Day said.
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.