The former GM Holden executive director of corporate affairs, Alison Terry, has stepped in to fill a position on the AustralianSuper board.
The vacancy has been left by the sudden death of director Peter Thomas.
Terry has acquired widespread management and policy experience during 17 years with GM Holden, which included a period as general council, where she was involved in high-level public policy and government relations as well as the management of legal and regulatory exposures.
Terry also has experience in financial management, marketing and international business operations.
"The challenge is to keep strengthening the board and Alison's formidable expertise is consistent with this objective," AustralianSuper Board member and chief executive of Ai Group Heather Ridout said.
The Australian Prudential Regulation Authority (APRA) has modified the additional licence conditions imposed on the trustee.
AFCA’s chief executive urged member firms to up their internal dispute resolution processes in order to cut down on costs owed to the authority.
ASFA’s CEO called Joe Longo’s comments on super “unfounded and unfair”, after the ASIC chair said fund trustees don’t always “know their business”.
Less than a month after being ordered to pay $27 million for failing to merge duplicate member accounts, Australia’s biggest super fund is again the target of a suit launched by the corporate regulator.