Construction industry super fund Cbus has named an ex-BlackRock country head as its incoming chief executive.
Justin Arter is set to commence as the fund’s new boss from late August, replacing its outgoing CEO David Atkin.
Mr Atkin is set to depart the fund after 12 years at its helm.
Mr Arter has come to the fund after holding senior roles at BlackRock, including country head for Australia and head of institutional client business for the UK, Middle East and Africa.
Prior to that he led the Victorian Funds Management Corporation, the funds management arm of the Victorian government and spent 18 years in a range of senior positions at Goldman Sachs JB Were, having held seats on the board, management and risk committees.
He has also consulted across financial institutions. Cbus reported he is currently assisting the institutional arm of ANZ in its business with industry superannuation funds.
Cbus Super chair Steve Bracks commented: “Justin Arter is an executive with a global reputation.
“Given the growing sophistication of Cbus’ investments and leading position in providing products and services to improve the retirement outcomes of our members, Mr Arter is well placed to build on our strong foundations to guide the next period of Cbus’ journey.”
Commenting on Mr Atkin’s exit, Mr Bracks added: “David’s stewardship of Cbus has been a remarkable achievement.”
Mr Arter said he was looking forward to starting work at Cbus.
“I am incredibly excited about leading the fund into the next stage of its journey and to continue its success in maximising the retirement futures of its 750,000 hard-working fund members,” he said.
The appointment has been made as Media Super and Cbus have commenced due diligence on a potential merger.
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.
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