South Australian private sector superannuation fund Statewide has announced two key appointments, strengthening its management team.
Con Michalakis has been appointed as Statewide’s investment manager. Michalakis will be responsible for managing the fund’s over $2 billion in assets in conjunction with investment consultants Access Capital Advisers and Morningstar. He will also ensure appropriate risk management and compliance with investment regulators.
Statewide’s second appointment is Suzanne Ridding, who has taken on the role of sustainability manager. In the role she will assist with implementing Statewide’s United Nations Principles for Responsible Investment commitments. Ridding will also ensure that environmental, social and economic factors are encouraged and practiced throughout the investment portfolio.
Prior to this, Michalakis was director of marketing and client services for a Manhattan-based boutique investment firm, Pzena Investment Management, where he was responsible for marketing the firm’s products and services in Australia, New Zealand, Hong Kong, Singapore and Japan.
Michalakis was previously the director, head of institutional business, for Merrill Lynch Investment Managers based in Sydney.
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Jim Chalmers has defended changes to the Future Fund’s mandate, referring to himself as a “big supporter” of the sovereign wealth fund, amid fierce opposition from the Coalition, which has pledged to reverse any changes if it wins next year’s election.