The Association of Superannuation Funds of Australia (ASFA) has nominated former Colonial First State executive and AMP director Linda Elkins as the new chair of its board, as the peak body jostles with the Financial Services Council for primacy in representing the $3 trillion APRA-regulated super sector.

Elkins succeeds Gary Dransfield, who steps down after four years in the role.

Elkins brings more than 30 years’ experience in financial services, including as executive general manager at Colonial First State, and managing director of Russell Investments’ superannuation business. Earlier in her career she held roles with Sunsuper, the Insurance and Superannuation Commission, ASIC and KPMG. She is currently a non-executive director of AMP Limited and AMP Bank, and has previously served on ASFA’s board and chaired committees for both ASFA and the FSC.

Her nomination comes at a testing time for the association. The FSC recruited a trio of ASFA’s technical staff last year to spearhead its rival Superannuation Practitioners Group, prompting ASFA to hold a strategic review of its ASFA InPractice unit, while the two associations have more recently clashed over who should lead on sector-wide cyber governance standards, with the FSC accusing ASFA of anti-competitive behaviour over its application to the ACCC to negotiate with third-party vendors on behalf of all super funds.

ASFA’s claim to represent the full breadth of the sector was also tested by the departure of retail giants Insignia Financial and Colonial First State from its membership in 2023 – an exit that left AMP, where Elkins sits on the board, as one of the few remaining for-profit players of scale in its ranks.

In a statement, Elkins said that whole-of-system representation remains ASFA’s key strength as super grapples with the wave of Australians moving into retirement, growing cyber and financial crime threats, and global political and economic volatility.

“ASFA represents the full breadth of the APRA-regulated system, from retail and industry funds to wrap platforms and service providers. That whole-of-sector view is what makes ASFA so crucial to ensuring super is not only a world-class accumulation system, but a world-class retirement system, too,” Elkins said.

“I’m delighted for the opportunity to join the board at this pivotal time for the super sector. If the members approve, I’m looking forward to working with Mary and the ASFA team on critical issues like cyber security, delivering better financial advice and retirement outcomes, and maintaining trust in super.”

ASFA chief executive Mary Delahunty said Elkins’ broad experience would be invaluable.

“Linda has spent her career working across industry and retail funds, platforms, advice, and government. She is uniquely qualified to lead super’s peak body as ASFA works on delivering our policy agenda of simpler, safer, stable super,” Delahunty said.

“Our goal is ensuring Australians can retire with confidence, supported by the world’s best retirement system, and Linda, our board and the ASFA team will be relentless in making this a reality.”