John McMurtrie has announced he will be retiring as managing director of major superannuation funds administrator, Link Group, exiting the business next year.
His replacement is QBE executive, Vivek Bhatia.
McMurtrie is regarded as a significant loss to the company, having led it for over more than two decades building it into one of the largest superannuation funds administrators in Australia on top of its origins as a registry business.
McMurtrie said he would be working with Bhatia for a seamless transition before leaving next year.
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.