High profile wealth management leader Chris Cuffe will step aside as chairman of UniSuper from June 30 after 10 years with the fund and six years in the chairman’s role.
Current director Ian Martin will take over the chair from Mr Cuffe.
“Chris has guided the Board through a transformative time within the business and we have benefitted enormously from his wealth of experience, insight and leadership. There has been extensive change within our fund and the broader industry over the last decade and we are in a much stronger position today due to Chris’ guidance and oversight,” said Kevin O’Sullivan, UniSuper CEO.
“My time at UniSuper has been dynamic and very fulfilling, and I wish the board and executive team continued success in the future. I know that under Ian’s and Kevin’s leadership, the fund will continue to deliver strong performance, excellent service and ultimately better retirement outcomes for its members,” said Mr Cuffe.
Mr Cuffe will remain on the UniSuper Investment Committee as a non-director member.
Ian Martin joined the UniSuper Board as an independent director in April 2013 from BT where he was CEO of BT Financial Group and Global Head of Investment Management of Bankers Trust Corporation. He is also Chairman of Argo Investments Limited, Argo Global Listed Infrastructure Limited, and Vice Chairman, Asia Pacific of Berkshire Capital.
He is also Chairman of the Wayside Chapel Foundation. “I am very much looking forward to the opportunity to Chair the UniSuper Board and am honoured to be appointed to the role. I wish Chris continued success and extend my appreciation on behalf of the Board for his support and guidance during his term,” said Mr Martin.
UniSuper has also appointed new independent director, Mark Armour to the board, effective 1 July. Mr Armour has a background in funds management and financial services, both globally and in Australia. He has served as head of the European business of Invesco, CEO of Invesco Australia and CEO of Funds Management at AXA Australia.
“We welcome Mark to the Board and have no doubt he will bring a valuable global perspective to our discussions. Given Mark’s extensive experience and high regard within the industry, the Board unanimously supported his appointment as a Director and looks forward to the different perspectives he will bring to the Board,” said Mr Cuffe.
Mr Cuffe has had a stellar record in funds management, leading what started out as the State Bank NSW’s funds management arm and then became Colonial First State Investments, to become Australia’s largest investment fund manager, with $70 billion under management, 500,000 investors and 1000 staff by 2003.
He then joined Challenger as CEO and later joined Social Ventures Australia (SVA), an Australian-based not for profit organisation.
UniSuper is a $60 billion profit-for-members super fund serving the tertiary education and research sectors.