Luke to leave Sunsuper after 10 years

The chief executive of the $10 billion Sunsuper multi-employer fund, Don Luke, has signalled he will leave the position around the middle of next year in order to pursue a new career in community service activities.

Luke, one of the most respected fund executives in Australia, has been running Sunsuper for 10 years. Despite the repeated requests of his peers in the industry, he has resisted attempts to award him formal industry accolades in recent years. Sunsuper has long been one of the most innovative not-for-profit super funds in terms of service offerings to its members and investment strategies. It was an early provider of fee-based financial planning, for instance, as well as one of the first Australian funds to be involved in a sophisticated global investment swap strategy in the 1990s. Luke’s position is being advertised nationally this week through Northern Recruitment. Luke said yesterday: “I have been working with the board on succession planning for over a year now. I have enjoyed every moment I have been at Sunsuper and I will be assisting the company with a long transition period before I depart. “There are a number of very exciting things planned for the future at Sunsuper and I look forward to being heavily involved in these right up until that time.” Grace Grace, Sunsuper chair, said Luke would pass on a legacy that would last for many years. “Don’s enthusiasm and passion for the financial wellbeing of our members is shared by all at Sunsuper,” she said. “Every member of staff at Sunsuper is committed to providing great retirement for members through strong returns and low fees. We wish Don all the best in his new role in aged and community care and are pleased he is assisting us through this transition.”