$180bn fund reveals new chairman

Christine McLoughlin has been appointed as the new chairman of Aware Super, formally joining the fund on 1 October.

McLoughlin, who is also the chairman of the Suncorp Group and a director of Cochlear Limited, brings more than 25 years’ experience in the financial services sector as both an executive and non-executive director.

She succeeds former chair Sam Mostyn, who stepped down in April when she was appointed Australia’s 28th Governor-General.

According to Aware, the new appointment follows a period of digital transformation for the fund and a renewed focus on providing support to its members.

“Attracting a chair of Christine’s calibre reflects the importance Aware Super places on good governance and its deep expertise in delivering optimal member experiences,” Aware’s governance and nominations committee chair Patricia Faulkner said.

“Aware Super’s ambition to lead in retirement is enabled by our industry-leading digital platform which offers our members a secure, easy and fast way of interacting and getting the help they need to achieve their retirement aspirations.”

CEO Deanne Stewart said that the fund will benefit from McLoughlin’s experience in the insurance industry, where corporations have rapidly evolved to meet the changing needs of their customers at key life moments.

“As Aware Super continues to shape the best possible retirement for members, insights from other sectors will strengthen the fund’s board,” Stewart said.

“Aware Super is fortunate it will have the benefit of Christine’s strategic and governance experience in large, complex and heavily regulated sectors, combined with her international business background and aligned values.

“We’re committed to continuing to redefine the superannuation industry in Australia with our digital capabilities and expertise to meet the growing retirement needs of Australians and deliver high quality service for all our members.”

Commenting on her appointment, McLoughlin said that ageing populations mean retirement is one of the greatest challenges faced by developed economies around the world.

“I’m proud to be joining Aware Super at a time when they are already thinking and acting on how to best serve and deliver value for not only their members but the broader community,” McLoughlin said.

“I recognise this is a critical time for industry funds and the superannuation industry more broadly. I believe Aware Super is best in class and will continue to help many Australians navigate a successful retirement.

“As I’ve learned more about Aware Super, I’ve been struck by how strong the organisation is, not only in terms of their advice and digital services for members, innovation, investment capability and commitment to governance, but how they’re thinking about retirement.”