One of Australia’s largest corporate superannuation funds is searching for its first-ever chief executive officer.
The board of the $6 billion-plus Officers Superannuation Fund (OSF), for staff of the Commonwealth Bank and its subsidiaries, has created the position at the instigation of independent chairperson Neil Cochrane, the former Colonial First State Global Asset Management (CFS GAM) executive who took his seat late last year.
Cochrane said the CEO role was aimed at “taking the fund to the next level” in terms of the service it delivered to its 64,000 members. He added the role was in addition to the existing role running OSF’s secretariat, OSF Trustee Services, which has been held for many years by Gerard Parlevliet.
The profile of the OSF is increasingly that of an accumulation fund, with only 15 per cent of its assets now related to defined benefit arrangements.
Cochrane, who ran the Retail Employees Superannuation Trust before joining CFS GAM, has taken several board positions since retiring from fulltime work last year. Apart from OSF, these include becoming an independent director of Auscoal Super’s trustee company and its investment committee, a director of the Fund Executives Association, and seats on CFS GAM’s advisory committees for its infrastructure and property investments.