Cbus Super, the $56.5 billion building and construction industry superannuation fund, is looking for a new chief executive after announcing that David Atkin will depart mid-year after more than 12 years at the helm.

The 56 year old Atkin said in a statement on Tuesday that it was time for him to “explore other opportunities” after a period of “reflection with family over summer”.

“I like to think over the last twelve years Cbus has delivered an exceptional service for members,” he said in the release.

“Members have been at the heart of everything that we do.”

Under his leadership, the fund has grown from $12 billion in funds under management to its current size.

“David has been CEO of Cbus for over a third of its existence and over that time the fund has become an industry leader and a sophisticated global investor,” said Cbus chair, Steve Bracks.

“While we are obviously very disappointed to see David move on, we congratulate him for his achievements and his dedicated service to the men and women of the building and construction industry.”

Cbus has been a top performing fund over the last decade. Further, it was recently named by Roy Morgan research as the superannuation fund with the most satisfied members. The research house found 73.2 per cent of members were satisfied beating out Catholic Super at 71.3 per cent, and UniSuper at 69.6 per cent.

“The fund is consistently ranked in the top few funds on trust and satisfaction which is a clear endorsement of the member first culture David has driven,” Bracks added.

The former Victorian premier said Atkin’s global leadership on responsible investment and corporate reporting would be a lasting legacy for the Australian superannuation industry. And, that his role in making climate change a prominent focus for investors has been a particular focus.

“David is an elder statesperson of the responsible investment community both in Australia and overseas,” he said.

“His thoughtful approach and long-term vision on sustainability has contributed in no small way to the current momentum on climate related investment.

Bracks said Cbus is recognised as an employer of choice and that Atkins has driven a strong focus on gender diversity understanding the positive impact this has on investment outcomes and broader fund performance.

 

Elizabeth Fry is the editor of Investment Magazine's digital platform. Fry has been a financial journalist for more than 25 years and has written for a number of publications, including CFO, The Financial Times and The Australian Financial Review.
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