Wayne Swan has taken over as chair of Cbus Super, following his appointment last August.
The former Federal Treasurer took over from previous chair Steve Bracks, who had sat on the board of the superannuation fund for 13 years.
“I am determined to ensure the fund continues to deliver excellent outcomes for members. The super landscape is changing constantly, and I will continue Steve’s ambitious agenda for fund growth to ensure members continue to benefit from economies of scale and the very best investment opportunities,” he said.
Joining him on the board would be Michelle Beveridge, who would also chair the audit and finance committee, and Jason O’Mara who would take over from Anthony McDonald and deputy chair Dave Noonan.
Beveridge was formerly independent director of REI Superannuation fund from 2017-2021 and was also chief information officer and chief operating officer at Intrepid Travel.
Meanwhile, O’Mara was a workplace safety campaigner and ACT secretary for the construction, forestry, maritime, mining and energy union (CFMEU).
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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