Howard Rosario, the chief executive of Westscheme, has been elected chair of the Fund Executives Association Ltd (FEAL), following the retirement from the board of Brett Westbrook, former chief executive of Future Plus.
Westbrook flagged his intention to step down from FEAL after resigning from Future Plus, owned by the NSW Local Government and Energy Industries Superannuation Scheme, in July. He has not yet announced a new position in the industry, but is thought to be considering positions with service provider organisations rather than another super fund. FEAL members have also elected three new directors: Damian Hill, the chief executive of REST; Colin McGuinness, the chief executive of NGS Super; and Paul Watson, the deputy executive director of MTAA Superannuation Fund. Joe Farrugia, the secretary of the Catholic Superannuation Fund in Victoria, remains deputy chair. Terry McCredden, of Telstra Super, has also retired from the board. The remaining directors are: Michael Dwyer (First State Super), David Elia (HOSTPLUS) and Frances Magill (Statewide). Lorraine Berends, the Australian representative for Marvin & Palmer Associates, is an adviser to the FEAL board.
The role of IFM Investors in arranging a visit by a delegation of Australian super funds to the US last month gives a pointer to the scale of the longer-term ambitions of the global super-fund-owned asset manager, and a recent investment in the manager by the UK pension fund NEST is designed to give it even greater clout. IFM chair Cath Bowtell tells Investment Magazine the manager aims to be a partner to governments around the world as they seek capital to build critical infrastructure.
Glenda KorporaalMarch 21, 2025
