UniSuper has recruited former head of Colonial First State (CFS) and Challenger Financial Services Group, Chris Cuffe, to chair the board.
After more than four years as an independent director on the board, Cuffe will succeed Elizabeth Bryan, who announced her intention to retire from the board earlier this year following eight years as director and four as chair.
Cuffe is currently a director of a number of organisations including Centric Wealth, Third Link Investment Managers, Social Ventures Australia and Arkx Investmeent Management.
In other changes to the board, Bruce Bonyhady AM will fill the independent director position left vacant by Cuffe’s appointment. Bonyhady has previously held various roles at ANZ investments, including managing director and chief investment officer.
Meanwhile, former head of CFS Credit Tony Fitzgerald has been appointed to UniSuper’s Investment Committee
The board of UniSuper, the higher education and research sector super fund with $29 billion under management, comprises three independent directors, four employer and four member representative directors.
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.