Industry Super Australia (ISA) chief executive, David Whiteley, is stepping down to take up a new global position with IFM investors.
ISA chair Peter Collins said that Whiteley had turned the organisation into the most effective advocate in financial services in the country during his 12 years at the mantle.
“Under David’s stewardship, ISA has developed into what is indisputably the best policy, lobbying and campaign organisation in our industry, perhaps the best in any industry.
“His leadership and unrelenting focus on good public policy has made life better for millions of Australians,” Collins said.
Collins pointed to the extensive campaigns Whiteley oversaw as proof of his impact.
“ISA led the campaign to retain the Low Income Super Contribution (LISC) while David and his team successfully saw off attempts to diminish the governance of industry super funds and make them more like banks.
"David led trade delegations overseas which helped globalise industry super funds investments and oversaw the award winning ‘Compare the Pair’ marketing campaign showcasing industry super funds’ outperformance.
“This helped Australians understand how their superannuation returns can significantly impact their final nest egg and the increased membership and scale that comes from it has allowed industry super funds to deliver the best possible member returns.”
Whiteley would take up his new role in September.
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.