IFM Investors has announced that Ms Bowtell is to replace Greg Combet as chair following his appointment by the government as chair of its net zero authority.
Ms Bowtell has been a director of IFM since 2019 and in addition to her role as deputy chair, currently serves as chair of the people and remuneration committee and member of the IFM board audit and risk committee.
She brings extensive experience across the industry superannuation sector to the role and holds a number of directorships, including as chair of The Royal Women’s Hospital, Industry Fund Services Group, and The New Daily.
Ms Bowtell is also a director of the Melbourne Arts Precinct Corporation and Industry Super Australia (ISA) and has previously held the roles of chief executive of the Australian Government Employees Superannuation Trust (AGEST) and director at AustralianSuper.
Speaking on her appointment, Ms Bowtell said: “I’m honoured to be appointed chair at such an important time for IFM as we continue to grow our global presence and work to deliver for our owners and clients and the millions of working people they represent.”
“I thank Greg Combet for his leadership and contribution to IFM over the last 10 years, his vision, integrity, and sense of purpose has been integral to IFM’s success over the past decade.”
As part of his statement, Mr Combet confirmed that the IFM board would meet later in June to appoint a new chair.
“Cath’s depth of experience across the superannuation sector, alongside her lifelong commitment to working people, has meant she has already made a tremendous contribution to IFM and I look forward to seeing that continue with her appointment as chair,” Mr Combet commented on his successor’s appointment.
“I wish Cath, the board and everyone at IFM every success for the future.”
IFM also announced the appointment of former Australian finance minister Lindsay Tanner as an independent director of the board.
Mr Tanner served as the federal member for Melbourne from 1993 to 2010 and was minister for finance and deregulation from 2007 to 2010, which included oversight of Australia’s sovereign wealth fund — the Future Fund.
He is currently a director of Suncorp Group and Virgin Australia International, a member of the investment advisory committee of investment firm Six Park, and chair of AFL Victoria.
“IFM is a distinct global funds manager and I look forward to working closely with my fellow board members so that IFM can continue to deliver long-term investment returns that help support millions of working people in their retirement,” Mr Tanner said on his appointment.
Also on Monday, ISA confirmed Mr Combet will be replaced as its chair by Peter Collins, who it described as a strong advocate for industry funds and the leading role they play in Australia’s financial industry.