NGS Super has promoted its longstanding executive manager investments Ben Squires to the title of chief investment officer.

Squires has been a senior member of the investment team at the $8.8 billion industry fund since 2008, leading the team since former chief investment officer Mary Fallon departed the fund in July 2015.

At the time of Fallon’s departure nearly three years ago the NGS Super board voted not to appoint a new CIO, instead splitting the duties between Squires and chief executive Anthony Rodwell-Ball.

Now, following Rodwell-Ball’s recent retirement, the board has decided to elevate Squires title to that of CIO reflecting his responsibilities.

“Ben played an instrumental role in assisting the board develop a revised investment strategy which involved making significant changes across the entire investment portfolio, including internalisation of some investment functions and decision making,” NGS Super acting chief executive Laura Wright.

She said the subsequent recasting of the investment strategy to align with the board’s risk appetite had led to improved member outcomes, through higher risk adjusted returns and lower fees across the majority of investment options.

“Ben has developed a strong team internally and provided investment thought leadership to the Investment Committee, Board and Management Team, and built strong relationships with the Asset Consultant,” Wright said.

The board’s search for a new CEO is ongoing.