Pillar Administration has appointed Peter Brook as chief executive and managing director.
Brook previously held the post of chief financial officer for State Super Financial Services from October last year to May this year when he was appointed to Pillar.
Brook was also previously chief financial officer at Alinta Energy and held senior executive positions with Challenger Financial Services and MLC.
Last December Pillar Administration chief executive, Peter Beck left the fund and was succeeded by former chief executive Peter Cormack on a temporary basis while the fund looked for a permanent successor.
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.
In a new review of the country’s largest fund, a research house says it’s well placed to deliver attractive returns despite challenges.
Chant West analysis suggests super could be well placed to deliver a double-digit result by the end of the calendar year.
Specific valuation decisions made by the $88 billion fund at the beginning of the pandemic were “not adequate for the deteriorating market conditions”, according to the prudential regulator.