Pillar Administration has appointed Peter Brook as chief executive and managing director.
Brook previously held the post of chief financial officer for State Super Financial Services from October last year to May this year when he was appointed to Pillar.
Brook was also previously chief financial officer at Alinta Energy and held senior executive positions with Challenger Financial Services and MLC.
Last December Pillar Administration chief executive, Peter Beck left the fund and was succeeded by former chief executive Peter Cormack on a temporary basis while the fund looked for a permanent successor.
Australia’s superannuation funds are becoming a defining force in shaping the nation’s capital markets, with the corporate watchdog warning that trustees now hold systemic importance on par with banks.
Payday super has passed Parliament, marking a major shift to combat unpaid entitlements and strengthen retirement outcomes for millions of workers.
The central bank has announced the official cash rate decision for its November monetary policy meeting.
Australia’s maturing superannuation system delivers higher balances, fewer duplicate accounts and growing female asset share, but gaps and adequacy challenges remain.