Why super fund CIOs have evolved from money managers into people managers
The chief investment officer role at superannuation funds has never been harder to fill as the job now requires both investment expertise and executive management skills.
The $335 billion Future Fund may have finally appointed a chief investment officer this week after a seven-month search, but the even bigger AustralianSuper is still looking for one. So is legalsuper.
When these funds do find someone to fill that critical role, that person is likely come from a different background from the people who managed superannuation funds’ investments in the past.
Australia’s super funds (and the Future Fund) have grown so big and become so complex that running their investment functions is less about managing money, and more about managing people.
“It’s still a hard role to fill because you need all the skills that a general manager has plus the detail of the knowledge of investing,” former Australian Ethical CIO David Macri tells Capital Brief.
