Rest reviews structure and creates CIO position

Industry super fund Rest has refined its investment structure and governance framework to position it for further growth following a 12-month review.

The fund, which has $57 billion in funds under management, said its investment arm Super Investment Management (SIM) would now be integrated into the fund’s internal investment team.

It also created a new position of chief investment officer who would be responsible for implementing the investment strategy, as set by the board and investment committee.

In the interim, this position would be taken over by George Zielinski and Rest said it would commence recruitment of a permanent CIO immediately. Zielinski joined Rest in 1997 and was currently CIO at SIM.

Simon Esposito would take on the position of head of SIM to manage SIM on a day-to-day basis while the transition was taking place.

Rest chief executive, Vicki Doyle, said: “Having a single team also allows the fund to be nimbler in decision making and will further align all our investments functions with the rest of the fund as we continue to deliver superior member and employer experiences.”

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