The $4.3 billion Equipsuper has appointed the deputy country head of UBS Global Asset Management (UBS GAM) as its new CEO, but the funds manager won’t immediately replace the role.
The profit-for-members fund announced yesterday that it had recruited Danielle Press, deputy head of Australia and head of risk at UBS GAM, as its new CEO to succeed Robin Burns, who left to become managing director of Equity Trustees.
Press, who has worked at UBS GAM since the early 1990s, will move from Sydney to Melbourne for the role and begin on May 1.
Andrew Fairley, chair of Equipsuper, expected Press to bring “a rich background in investment and risk management to the role,” in addition to her experience as a leader of strategic planning exercises, which would be useful “at a time when the superannuation industry is being encouraged to seek opportunities for collaboration between funds and even mergers,” the announcement read. Ironically, Fairley was yesterday fending off renewed speculation that the on-again, off-again merger talks betwen his fund and the similar-sized Victorian, Vision Super, were ‘on’ again.
Fairley said Press’ experience in portfolio management, product development, client management, economic analysis and investment banking made her a suitable candidate for the role.
The Australian head of UBS GAM, Paul Bolinowsky, said Press went with all her colleagues’ best wishes and admiration for her 17-year contribution to the firm. He said he would review the manager’s structure before deciding how and if Press would be directly replaced.