Indian-based technology firm, Tech Mahindra, has secured the mandate for LGIAsuper’s administration services, representing a major step in the company’s foray into the Australian market.
The super fund’s decision followed a competitive tender process, with the deal with Tech Mahindra expected to provide significant savings for members by halving the annual costs of providing administration from 2021.
LGIAsuper chief executive, Kate Farrar, noted that Tech Mahindra also had a large local presence, with more than 180 staff employed in Queensland and established partnerships with companies in the region.
The new partnership would take effect from 1 November, this year.
The super fund has appointed Queensland director and super fund executive Brendan O’Farrell to its Board as part of its ongoing governance renewal.
The $205 billion super fund has appointed Simon Warner as chief investment officer (CIO) following a global search to replace outgoing Damian Graham.
Industry super fund Rest has appointed an interim head of private markets following the exit of Simon Esposito.
Two former Statewide Super executives have been acquitted of dishonesty charges following a trial in the District Court of South Australia.