16 November 2011 09:39

Andrew Spence, the acting chief executive of Qantas Superannuation Ltd., expects to make way for a new CEO by the end of this month.

Spence has been acting CEO of the $6 billion fund since August when Janet Torney resigned.

“I expect our appointment of a new CEO will take place by the end of the month,” says Spence. “I can’t say anything more.”

Spence is also the chief investment officer of Qantas Superannuation which has about 33,000 members and traces its origins to 1939.

He says it was never his ambition to be CEO.

“I was happy to step up as acting CEO,” says Spence. “I’m very passionate about my role as CIO.”

Qantas Superannuation has hired Hugh Loughrey as head of legal, risk and compliance.

Loughrey, who was recently working as chief legal counsel at BT Financial Group, will begin work at Qantas on November 28.

“Hugh brings considerable expertise and commercial judgement to Qantas,” says Spence.

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