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.
Vanguard Super has reported strong returns across most of its investment options, attributed to a “low-cost, index-based approach”.
The fund has achieved double-digit returns amid market volatility, reinforcing the value of long-term investment strategies for its members.
Australian super funds notched a third consecutive year of strong returns, with the median balanced option delivering an estimated 10.1 per cent over the 2024-25 financial year, but an economist has warned that the rally may be harder to sustain as key risks gather pace.
AustralianSuper has reported a 9.52 per cent return for its Balanced super option for the 2024–25 financial year, as markets delivered another year of strong performance despite the complex investing environment.