The Industry Super Network (ISN) has announced the appointment of Zachary May to its executive ranks as the director of regulatory policy. May will provide advice and direction in the fields of government regulation, strategy and policy development. He will also focus on banking, investment and financial markets regulation.
Before moving to the ISN, May worked with the Securities and Exchange Commission (SEC) in the United States. In his role at the SEC, he provided strategic policy and legal advice to Commissioner Luis Aguilar during the global financial crisis and the subsequent reforms to US financial regulation.
ISN chief executive David Whiteley said May would help the organisation fulfil its mandate of improving the retirement savings of the five million Australians who are members of industry funds.
"He brings with him a deep knowledge of financial markets and products combined with an understanding of the importance of consumer and investor protection," Whiteley said.
May's appointment comes as the ISN research, policy and economics team has added to its ranks. Darren Anderson will join the Sydney office as an economist, and Dr Christian Clark has taken up the position of research analyst in Melbourne.
The research house has offered a silver lining after super fund returns saw the end of a five-month streak last month.
A survey of almost 6,000 fund members has identified weakening retirement confidence, particularly among those under 55 years of age, signalling an opportunity for super funds to better engage with members on their retirement journey.
The funds have confirmed the signing of a successor fund transfer deed, moving closer to creating a new $29 billion entity.
A number of measures, including super on Paid Parental Leave, funding to recover unpaid super, and frameworks to encourage investment in the energy transition, have been welcomed by the superannuation industry.
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