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.
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
