legalsuper chief executive, Andrew Proebstl, has announced he will be stepping down from the fund after 20 years.
During his tenure, Proebstl had a lead role in the merger of seven other legal funds to create the $5 billion legalsuper with 41,000 members.
He would step down on 23 November and Trevor Ericson would step in as interim CEO.
Executive search company, Ogders Berndtson, had been appointed to begin a search for Proebstl’s permanent replacement.
Chair, Kirsten Mander, said: “Andrew is widely recognised as an advocate for smaller super funds being able to deliver strong results to members and provide more personalised and customised products and services to members.
“During his time at the helm, Andrew nurtured and extended the capability of our people to ensure legalsuper always delivered high quality, personal and tailored experiences for its members and employers.”
Proebstl added: “It was an honor and a privilege to have had the opportunity to work with such a fabulous team at legalsuper. I’m very proud of the results the fund achieved during my time as chief executive, and I look forward to seeing how the business evolves from here.”
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.