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AusSuper CIO paid $947k bonus
AustralianSuper’s executive team were paid a total of $6,091,406 including bonuses totalling $2.54 million between four of its executives during the 2019/20 financial year.
The industry superannuation fund was asked a question on notice by the House of Representative Standing Committee on Economics on what its base salary and bonuses were for the 2019/20 and 2020/21 financial year.
AustralianSuper pointed to its annual report in answering the question but noted that its 2020/21 FY salaries would be reported in its 2020/21 annual report.
The annual report said the fund’s chief investment officer and deputy chief executive, Mark Delaney, had the highest remuneration of the executives including a base salary of $733,437 and a performance payment of $947,400. Together with his superannuation payment, this gave him a total remuneration of $1,705,837 for the 2019/20 financial year.
The next best paid at the fund was its former head of equities, Innes McKeand, who had a total remuneration of $1,159,635 including a performance payment of $577,635. McKeand left the fund in March 2021.
The fund’s outgoing chief executive, Ian Silk, received a total remuneration of $1,111,234 and while he did not have a performance payment, he received non-monetary benefits totalling $17,417.
The fund’s head of mid-risk portfolios, Jason Peasley, had a total remuneration of $1,076,700 including a performance payment of $494,700.
AustralianSuper’s head of asset allocation and research, Carl Astorri, had a total remuneration of $1,038,000 including a performance payment of $519,000.
During the year, the fund had over $182 billion in assets under management.
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