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New head of stewardship named at Cbus

By Rhea Nath
3 minute read

The $85 billion fund has welcomed a former BlackRock executive to lead stewardship within its responsible investment team.

Cbus Super has appointed Stephen Monnier as head of stewardship in its responsible investment team.

In the role, he will be responsible for initiating, shaping, leading, overseeing, and implementing the fund’s stewardship framework within the broader responsible investment team.

Commenting on the appointment, Cbus’ head of responsible investment, Ros McKay, said: “With Cbus’ strong focus on responsible investment, Stephen brings a wealth of experience and expertise to Cbus Super and will be a valuable addition to the responsible investment team in the role of head of stewardship.’’

The fund also noted his extensive global and local experience in investment stewardship and sustainable investment, sustainable solutions, and ESG integration towards the appointment.

Prior to joining the $85 billion fund, Monnier spent 12 years at BlackRock, including four years as head of its APAC Sustainable and Transition Solutions which leads BlackRock’s firmwide sustainable investing and transition strategy.

He has also served as a senior business manager at BNY Mellon, deal manager for project and structured finance at Macquarie Bank, and senior business analyst at Bankers Trust.

Sharing the news on LinkedIn, Monnier said: “In my new role, I will be working alongside a talented team to drive outcomes that protect and preserve Cbus members’ best financial interests.

“I look forward to contributing to Cbus’ long history of responsible investing.”

Last year, the super fund saw a number of executive changes, with Kristian Fok stepping into the role of chief executive and his deputy Brett Chatfield stepping up to lead investment strategy as chief investment officer.

It welcomed Alexandra Campbell as deputy CIO and Alexandra West as chief strategy officer.

Additionally, Nancy Day was named chief operating officer and Natalie Hannemann came on board as chief transformation officer.

The slew of new appointments were crucial steps towards enacting a renewed strategy for the fund, according to CEO Fok.

“We’ve had a period of growth through mergers that has increased our member base and our reach into the media, arts, print, energy and electrical sectors,” he said.

“We need to continue to be on the front foot about how we evolve Cbus, aligning our operational capabilities so we can set ourselves up for future growth and continued long-term investment performance, and have a strategic focus on the way we work.”

Cbus Super delivered a commendable return of 9.49 per cent for its Growth (MySuper) option in the calendar year 2023, driving its 10-year average return to 7.60 per cent per annum.