The former CEO of QIC has joined the board of Hostplus.
Damien Frawley has been appointed as the new independent chair of industry super fund Hostplus following the departure of David Elmslie after a 15-year term.
Mr Frawley has over 35 years of experience in the financial services sector, including as CEO of the Queensland Investment Corporation (QIC) where he led the firm’s executive committee team to achieve strategic and business objectives between 2012 and 2022.
He also served as country head of BlackRock Australia from 2007 to 2012 and previously held roles at Merrill Lynch Investment Management, Barclays Global Investors and Citibank.
“I am delighted to welcome Damien to the Board of Hostplus and look forward to working closely with him to continue to deliver strong performance and better retirement outcomes for our members,” said Hostplus co-deputy chair Tim Lyons.
“Damien will no doubt bring valuable perspectives to the Hostplus board especially in relation to investments and effectively managing growth in an increasingly competitive marketplace. His depth and breadth of experience across financial, government and not for profit sectors will serve our members very well.”
Commenting on his appointment, Mr Frawley said it was a great honour to have been selected for the role of chair.
“Hostplus is responsible for the retirement savings of more than 1.5 million members which brings with it enormous responsibility,” he said.
“I am committed to ensuring that Hostplus’ focus on delivering superior member outcomes in their best financial interest, which has underpinned the fund’s 35-year history, continues to guide the board’s actions and decisions.”
Mr Frawley’s appointment on 1 July comes after the departure of Mr Elmslie on 30 June who had held the role of independent chair since 2007.
Hostplus CEO David Elia said he was delighted to welcome Mr Frawley and also paid tribute to the “enormous contribution” made by Mr Elmslie during his tenure.
“Throughout his time, he has diligently and faithfully served the Hostplus board, the fund, and the interests of all contributing employers and members,” said Mr Elia.
“To have had David advocating for both our members and our employers and leading our fund from strength to strength for so many years, has been truly invaluable.”
Jon Bragg is a journalist for Momentum Media's Investor Daily, nestegg and ifa. He enjoys writing about a wide variety of financial topics and issues and exploring the many implications they have on all aspects of life.