Long-standing Christian Super Chief Executive Officer, Peter Murphy has announced his resignation after a decade with the fund.
Murphy’s departure was confirmed by Christian Super chairman, Neville Cox who paid credit to his work citing the fund’s growth under leadership.
Cox said the board was preparing to begin a recruitment process to find a permanent replacement for Murphy but that, in the meantime, the existing executive team would manage the day to day responsibilities until a new CEO was appointed.
Cox said that he, as chairman, would be the key point of representation for all external parties.
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.