Andrew Whiley, the vice president of the Australian Institute of Superannuation Trustees and a Cbus trustee, is leaving his current position as CEO of the National Entitlement Security Trust (NEST) to become the business development manager in New South Wales for Members Equity, the workers’ bank owned by 43 superannuation funds.
Asked why he is making the move, Whiley says: “Like NEST, Members Equity is a collective financial organisation that exists primarily to benefit its members. This sits clearly with my own personal views about the need to have alternative financial models that work for the benefit of ordinary Australians.”
In the wake of a number of spectacular corporate collapses, NEST was established two years ago to help employers secure employee entitlements by making monthly contributions directed into individual employee accounts.
Whiley says his challenges will be to continue to build Members Equity’s profile as a low cost provider of financial services to workers and their families, and to raise awareness of its benefits among employers.
