BNY Mellon strategist and former Paul Keating adviser, Don Russell, has been appointed as the new chairperson of State Super.
NSW treasurer Michael Costa made the announcement yesterday. “I am pleased Mr Russell accepted the offer to lead the board of one of the largest superannuation funds in Australia,” he said. Russell, who is currently a global investment strategist with BNY Mellon, was Australia’s ambassador to the US from 1993 to 1995, and principal advisor to Paul Keating during his time as treasurer and prime minister. Russell will replace Michael Cole, who is currently reviewing local councils’ finance exposures.
11/03/2008
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Alternatives
The chief investment officer of the $150 billion industry super fund says that Hostplus’ portfolio will weather the ongoing downturn in software companies and that moves by a number of large private credit managers to gate their funds are a result of the asset class being offered to retail investors who should not have assumed the funds would be liquid enough to get money out when everybody else is trying to do the same.
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