The merger of QSuper and Sunsuper is to proceed resulting in Australia’s largest superannuation fund.
The boards of QSuper and Sunsuper announced today they had signed a heads of agreement which will see the creation of a $200 billion merged entity servicing two million members.
In a joint statement, QSuper chair, Don Luke and Sunsuper chair, Andrew Fraser, said the merged fund will be headquartered in Brisbane and the merger will proceed in September this year.
The chair of the merged fund will be Don Luke and the board will be formed from the existing boards.
The chief executive will be Bernard Reilly who is currently chief executive of Sunsuper.