Doug Carmichael has announced his retirement as chief executive of Commonwealth Bank’s Group Super offering, effective from the end of this June.
Carmichael had led the trustee services team in its service of the group super fund as CEO for the past nine years, during which had had assisted in the development and execution of strategies to achieve member satisfaction, fund growth, and member retention.
Commonwealth Bank had already commenced its search for a new CEO.
The fund has hired a former ART executive as its new head of group strategy.
The sovereign wealth fund has revealed six internal hires to support the execution of key strategies.
The fund has announced the departure of a second senior executive in as many months, with its chief member officer to finish up mid-December.
The $89 billion fund has announced a new leadership role within its private markets team.