TelstraSuper chief investment officer Graeme Miller will move to Mercer Super to become CIO of the $74 billion fund.
Miller had spent almost nine years at TelstraSuper and is expected to commence the role in 2Q25.
While a media statement announcing the move described Miller’s appointment as a “newly-created role”, current IAG CIO Corrin Collocott previously held a very similar role at Mercer between April and December 2023.
While very similar to Miller’s new role and with the same title, Mercer clarified the differences between the two positions.
“Corrin had a hybrid role, with responsibilities as CIO of Mercer Super, multi-sector, and deputy CIO across Mercer in the Pacific. Graeme’s role is dedicated solely to Mercer Super,” a spokesperson for Mercer told Investment Magazine.
Miller will be joining the Melbourne office and is returning to the same fund he began his career at as an actuarial graduate.
His responsibilities will focus on Mercer Super’s investment options, including investment strategy design and investment performance.
“Having a CIO of Graeme’s calibre dedicated to the investment outcomes of our members’ portfolios will help further our position among Australia’s best super funds,” chief executive Claire Ross said in a media statement.
TelstraSuper announced that Kate Misic, the fund’s head of alternative investments and real assets, would be interim CIO.
“Graeme has played a pivotal role in shaping our investment strategy, delivering strong outcomes for members and driving the fund’s approach to sustainable investing,” TelstraSuper chief executive Chris Davies said.
“With her proven leadership skills and deep expertise across so many asset classes, Kate is exceptionally well placed to guide our investment strategy for members and build on the strong foundation that Graeme has built.”
Miller’s departure is in advance of the pending merger between TelstraSuper and Equip Super, which would see the retirement of the TelstraSuper brand.
Both funds signed a binding Heads of Agreement in December to proceed with what the fund’s described as a “merger of equals”.
The merger would have Equip Super as the “go forward brand” and the eventual retirement of TelstraSuper altogether with the adoption of its products and services adopted by Equip Super members.
The combined profit-to-member fund will have more than $60 billion in funds under management and over 225,000 members.
Both funds will continue to operate independently until the execution of the merger, which is expected to happen in late 2025.
The current CIO of Equip Super is Andrew Howard, but Investment Magazine understands no decision has been made over who will be CIO of the fund when the merger is completed.
