Sunsuper has announced a major management restructure which will see the exist of its executive general manager advice, marketing and growth, Michael Mulholland.
The superannuation fund said the changes were aimed allowing it to effectively execute its ambitious growth strategy and ensure continued strong governance and risk management.
“The changes align with the Fund’s strategy to increase its focus on a data-driven, digitaldirect consumer strategy while maintaining the strong growth and momentum the Fund has experienced in the corporate super, retail distribution and SME space,” the announcement said.
It said Sunsuper’s executive team had been expanded from eight roles to eleven as follows:
It said that the new structure had seen the promotion of Petrina Weston, David Woodall, Danielle Mair and Stevhan Davidson to the executive leadership team with the new structure taking effect from 1 March.
On Mulholland’s departure the announcement said he had been offered a substantial role in the new team but had decided that now was the right time to move on.
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.