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Cbus CEO resigns

— 1 minute read

The chief executive of the $56.5 billion fund has stepped down after 12 years at the helm.

David Atkin has been CEO of building and construction industry superannuation fund Cbus Super for more than a third of its existence. 

He will remain boss while the fund undertakes a search for his replacement, which is expected to be finalised by mid-2020. 

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Mr Atkin said he had decided it was time to explore other opportunities.

Cbus Super chair Steve Bracks said under Mr Atkin’s leadership, the fund had grown from $12 billion in funds under management to its current $56.5 billion. 

He also added the outgoing CEO had created a legacy for the Australian super industry, having made climate change a prominent focus for investing.

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

“His thoughtful approach and long-term vision on sustainability [have] contributed in no small way to the current momentum on climate-related investment. Under David’s leadership, Cbus has been recognised as a leader on integrated reporting in Australia and overseas.

“Cbus’ investment performance has been in the top five funds over the last decade. [It] consistently ranks in the top few funds on trust and satisfaction which is a clear endorsement of the member-first culture David has driven.”

He added Mr Atkin also had a strong focus on gender diversity within investment outcomes and fund performance, with the fund being recognised as an employer of choice.

Mr Atkin commented he was proud of what Cbus had achieved over his tenure. 

“The fundamentals of Cbus are as strong as ever and now is the right time to hand over the reins to a new leader,” he said.

“I have been inspired everyday by the energy and commitment of the Cbus staff. Together we have built a member-focused culture which demonstrates how ethical, human-centred financial services can be delivered.”

 

Cbus CEO resigns
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Sarah Simpkins

Sarah Simpkins

Sarah Simpkins is a journalist at Momentum Media, reporting primarily on banking, financial services and wealth. 

Prior to joining the team in 2018, Sarah worked in trade media and produced stories for a current affairs program on community radio. 

You can contact her on [email protected].

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