Rest has decided to consolidate its investment subsidiary Super Investment Management (SIM) with its internal investment team and create a new chief investment officer position following a yearlong company review.
The superannuation fund described the changes as refining its investments structure and governance framework, gearing up for further growth.
The new chief investment officer will be held responsible for implementing the investment strategy, as set by the Rest board and the board investment committee. SIM founder and chief investment officer George Zielinski has taken the role while the fund searches for a candidate.
Functioning separately but wholly owned by Rest, SIM directly invests for its parent company across cash, bonds, project finance debt, property, Australian equities, private equity and infrastructure asset classes. It also provides asset allocation and foreign exchange overlay services for the fund.
“This change builds on Rest’s strengths as a major superannuation funds with $57 billion in funds under management and brings our investment expertise together in a single team to focus on further growth,” Rest chief executive Vicki Doyle said.
“Having a single team also allows the fund to be nimbler in decision making and will further align all our investments functions with the rest of the fund as we continue to deliver superior member and employee experiences.”
SIM head of private equity and credit investments Simon Esposito has been appointed as the head of SIM to manage day-to-day activities of the team, which will continue during the transition to becoming a single team.
Rest said its investment strategy, objectives and options remain unchanged.
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.
You can contact her on [email protected].
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