John McMurtrie has announced he will be retiring as managing director of major superannuation funds administrator, Link Group, exiting the business next year.
His replacement is QBE executive, Vivek Bhatia.
McMurtrie is regarded as a significant loss to the company, having led it for over more than two decades building it into one of the largest superannuation funds administrators in Australia on top of its origins as a registry business.
McMurtrie said he would be working with Bhatia for a seamless transition before leaving next year.
The Federal Court has ordered AustralianSuper to pay $27 million for failures to address multiple member accounts.
The country’s fourth-largest fund is targeting the “missing middle” of members with a new digital advice service in partnership with Ignition Advice.
The prudential regulator confirmed it is considering BUSSQ’s Federal Court appeal.
The Albanese government has put forward a bold proposal to tackle the challenges of Australia’s swelling retirement pool, in an effort to allow superannuation funds to play a more active role in shaping members’ retirement outcomes.