Rest has announced the appointment of experienced investment management executive, Michael Bargholz, as a new director on its board.
Mr Bargholz served as CEO of Pendal Group between 2016 and 2018, and previously held a number of executive positions including MD, Australia, at Fidelity International as well as CEO and MD, Australia and New Zealand, at AllianceBernstein.
The $68 billion super fund confirmed that Mr Bargholz has also been appointed as chair of the Rest Board Investment Committee after being a non-voting member since September 2020.
“Michael is a highly respected and experienced investment leader who will bring a valuable perspective to the Rest Board as we stay focused on helping our members achieve their personal best retirement outcomes,” said chair of the Rest board, Ken Marshman.
“Michael’s strong investment credentials and deep knowledge of Rest’s asset management approach will also be very welcome as Chair of the Rest Board Investment Committee.”
His appointment will take effect on 1 October following the departure of former Coles Retail financial controller, Steven Priestly, on 30 September.
Mr Priestley had two stints on the Rest Board, including from 2008 to 2012. He then served as an alternate director before being reappointed to the board as a director in 2014.
“Steven has made a very strong contribution to the Rest Board and Rest’s nearly two million members over the past 14 years, and I’d like to sincerely thank him for all he’s done for the fund and our members, and wish him well in his retirement,” said Mr Marshman.
Meanwhile in July, the super fund finalised its acquisition of a one-third stake in Sydney’s Quay Quarter Tower and announced an expansion to its sustainability mandate with Calvert Research and Management to include a carbon-reduction tilt across its Australian equity portfolio.
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.