APRA has lost its executive director focused on superannuation who had held the role since March 2023.
Carmen Beverley-Smith is executive director for life insurance, private health insurance and superannuation (LPHIS) but has now resigned.
She is set to join a regulated entity in a senior role so the prudential regulator said she will depart immediately.
Beverley-Smith has worked at APRA since March 2023 from big four bank Westpac where she worked as general manager for risk transformation delivery integration.
She has also held leadership roles at Westpac and Commonwealth Bank of Australia, including across risk, transformation and change, product and portfolio development, and sales and service.
LPHIS general manager Peter Kohlhagen will be acting LPHIS executive director on an interim basis until the a permanent replacement for the role is found which APRA said it will do as soon as possible.
She is the second APRA departure in recent months as deputy chair Margaret Cole announced she would be leaving at the end of her term in June 2026. During her time, Cole was fundamental in overseeing and implementing the Your Future, Your Super reforms.
Speaking last September, Cole said: “It has been a difficult decision to move on from such a critical role in a highly respected regulator with first rate colleagues and a vital mission for Australia and its people. But leadership is about taking the right decisions at the right time and leaving the enduring organisation in a strong position to face future challenges.”
