Graeme Arnott

First State Super has made two key changes to its leadership team ahead of  a merger with VicSuper to create Australia’s second largest profit-to-member super fund, managing $120 billion in retirement savings.

The super fund has appointed Sarah Forman to head up its advice business. In this role, she will develop the super fund’s advice products and services while overseeing a national network of around 200 planners.  The super fund, which announced the integration of its advice business State Plus in April 2019, has the largest member-owned advice network in Australia.

Forman joins from BT Financial Group where as national manager she headed up a team of 600 employees providing financial advice to customers of the Westpac Banking Group.

She will take the helm from Graeme Arnott, who had been temporarily running the fund’s advice business, but will now move into the deputy chief executive role overseeing the First State Super merger with VicSuper.

Sometime around the middle of next year, Arnott plans to step down from the executive team and will look for more board directorships and pursue other interests.

First State has also named Peter Chun as group executive of member growth. Chun, who will take up his new position in January, will be responsible for brand, marketing, digital, product and business development.

Chun previously worked at Colonial First State where he oversaw strategy, advocacy and business transformation. He has held other senior positions at the fund manager including acting general manager of the overall business in 2016 and again in 2019.

He will replace Suzanne Holden – who had been in the role since April 2019 – who will join Sydney Trains as chief customer officer starting in December.


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