Sunsuper has announced the appointment of its new chief executive, former State Street Global Advisors executive, Bernard Reilly.
The superannuation fund confirmed Reilly’s appointment, pointing out that the had been most recently State Street Global Advisors Head of Global Strategy and an executive vice-president.
Commenting on the appointment, Sunsuper chairman, Andrew Fraser said Reilly’s global expeience coupled with very strong investment and risk governance leadership credentials had given the board every confidence in his ability to lead the fund.
Reilly succeeds Scott Hartley in the CEO role and will formally take up his duties on 8 October, with Hartley remaining engaged to assist in the transition.
Australia’s second-largest super fund has confirmed it is expanding its presence in the UK following significant investment in the region.
A member of the super fund has approached ASIC to investigate potentially misleading or deceptive representations by UniSuper regarding the holdings of its sustainable portfolios.
The median growth fund delivered 1.9 per cent in March, adding to the “stunning” rally that has seen super funds gain 11 per cent since November.
Vanguard has affirmed its support for the current super performance test, emphasising the importance of keeping the process straightforward.
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