The soon-to-retire chief executive of QIC, Doug McTaggart, has been appointed to the board of Suncorp.
McTaggart's appointment was announced along with that of Michael Cameron and the resignation from the board of director Paula Dwyer.
Announcing the changes today, Suncorp chairman Ziggy Switkowski said McTaggart and Cameron brought considerable financial markets and business experience to the company.
He pointed out McTaggart's background both with QIC and as Queensland under-treasurer, and Cameron's role as the current managing director of GPT Group and his former roles at the Commonwealth Bank, NAB Wealth Management and MLC.
Switkowski said Ms Dwyer was stepping down from the board to take up a directorship in the financial services industry.
Future Group is set to take on nearly $1 billion in funds under management (FUM) and welcome more than 100,000 new members following two significant successor fund transfers.
Insignia’s Master Trust business suffered a 1.9 per cent dip in FUA in the third quarter, amid total net outflows of $1.8 billion.
While the Liberal senator has accused super funds of locking everyday Australians out of the housing market, industry advocates say the Coalition’s policy would only push home ownership further out of reach.
Australia’s largest superannuation fund has confirmed all members who had funds stolen during the recent cyber fraud crime have been reimbursed.