Melbourne-based Vision Super has started a search for a permanent chief executive with a view to making an appointment by Christmas.
Peter Rowe, who has served as acting chief executive since Rob Brooks left the role last year, will be interviewed and is keen on retaining the role.
The Vision Super board has hired a recruitment firm to carry out the search, which was initially put on hold during the fund’s merger discussions with VicSuper and following a board renewal process.
Rowe was appointed as acting chief executive and said he hoped the board would decide in his favour.
The new chief executive will be tasked with delivering on a number of big projects: the development of its partnership with advice network, Quadrant First, into which it is hoping to lure other funds, and for the development of its pooled superannuation trust (PST).
Quadrant First allows four funds to share a licence, compliance and governance structure, but to retain their own advice staff in house.
Rowe said they were looking for funds that shared their profit-for-members approach to giving advice to join the partnership.
Vision Super’s board is also determining the future path for its PST, which manages its $6-billion fund as well as the assets for two small super funds from Tasmania and Western Australia.
“We are going through a review of the PST to decide what it will be going forward. Is it purely our own investment vehicle? Do we want to open it up to a wider range of investors? Do we want to put product in there that will appeal to the SMSF market? There is a whole range of possibilities.”
Part of the attraction for super funds in joining the PST is a profit-for-members philosophy and its offer of fees that reduce as funds under management grow.
