IFM and ISA announce Combet’s successor

With chair Greg Combet stepping down to take on a federal role, Industry Super Australia (ISA) and IFM Investors have announced his successor.

Earlier this month, Combet was appointed by the Prime Minister to be a full-time chair of the new Net Zero Economy Agency from 10 July. Within this, he would guide the agency to ensure that the workers, industries, and communities that have powered Australia for generations can seize the opportunities of the net-zero transformation.

Former NSW treasurer Peter Collins AM KC, deputy chair of the ISA board, would take up Combet’s former chair role from 1 July.

Collins had joined the ISA board in 2012 and previously served as chair from 2013 to 2018.

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A fellow of the Australian Institute of Superannuation Trustees (AIST), he was also a board member of superannuation fund Hostplus since 2006.

“Peter is a strong advocate for industry super funds and epitomises the member first ethos of all our board members,” said ISA chief executive, Bernie Dean.

“His stewardship and support will help us deliver better retirement outcomes for our members.”       

Commenting on his appointment, Collins said it was an honour to once again lead the ISA team.

“ISA’s impressive public policy output, advocacy programs combined with the joint marketing campaign makes it a unique and highly effective peak body,” he said.

“I’d like to thank outgoing chair Greg Combet for guiding ISA through a challenging period, his commitment to improving the life of Australians in retirement was unwavering and his impact is such that millions of Australians will be more financially secure in retirement due to the reforms he has helped ISA secure.”

Meanwhile, industry super fund-owned global funds manager IFM Investors named Cath Bowtell, deputy chair, as new IFM chair.

She had been director of IFM since 2019 and currently serves as the chair of the people and remuneration committee and member of the IFM board audit and risk committee.  

She was also a director at ISA and had previously held the roles of CEO of the Australian Government Employees Superannuation Trust (AGEST) and director at AustralianSuper. 

Additionally, former Australian finance minister, Lindsay Tanner, joined the IFM board as an independent director. 

Tanner served as the federal member for Melbourne from 1993 to 2010 and was minister for finance and deregulation from 2007 to 2010, which included oversight of Australia’s sovereign wealth fund — the Future Fund.  

His extensive experience as an adviser of financial and asset managers included being a special adviser to Lazard Australia for more than a decade.

“IFM is a distinct global funds manager and I look forward to working closely with my fellow board members so that IFM can continue to deliver long-term investment returns that help support millions of working people in their retirement,” Tanner stated.

Both appointments would commence on 1 July 2023.