The chairman of the Labor Union Co-operative Retirement Fund (LUCRF), Greg Sword, has resigned and undertaken the position of acting general manager.
John Carlile, who was deputy chairman of LUCRF for the past eight years and who last year headed the LUCRF investment and compliance and audit committees, has become chairman. Meanwhile Paul Rohan, who was running LUCRF’s project management office including responsibility for reviewing its Atune member administration platform, left before Christmas to join IOOF. Sword, who said LUCRF remained committed to Atune, became acting general manager on January 1. The appointment coincides with the $1.8 billion industry fund’s ongoing search for a permanent general manager since the previous general manager, Paula Allen, left abruptly in August 2006. “My job is to ensure that management remains aggressive, and give the board breathing space while it searches for a new general manager,” Sword said. “They’re determined to make the right employment.” Meanwhile, Carlile said LUCRF had obtained a public offer licence and was in the process of developing products for impending public offer. Founded in 1978, LUCRF is among the first Australian industry super funds established.
Since taking over the top job at the $44 billion Funds SA more than a year ago, chief executive John Piteo has ushered in an investment function overhaul and wrapped up an important stage of the fund’s five-year data transformation program. It pledges to recentre around investment performance and more efficient processes, as the “missing piece” has been found in incoming CIO Con Michalakis.
Darcy SongJanuary 10, 2025
