Cath Bowtell has been named chair of industry super fund-owned global funds manager, IFM Investors, replacing Greg Combet in the role.

Former Australian Finance Minister Lindsay Tanner has also been named as an independent director on the IFM board.

Ms Bowtell was previously deputy chair of IFM, and has served on its board since 2019.

She has served as chair of the IFM People and Remuneration Committee and a member of the IFM Board Audit and Risk Committee.

As well as extensive experience across the industry superannuation sector, she holds a number of directorships, including as chair of the Royal Women’s Hospital in Melbourne, Industry Fund Services Group and The New Daily.

Ms Bowtell is also a director of the Melbourne Arts Precinct Corporation and Industry Super Australia, and has previously held the roles of chief executive of the Australian Government Employees Superannuation Trust (AGEST) and director at AustralianSuper.

Mr Combet said Ms Bowtell’s depth of experience across the superannuation sector, alongside her life-long commitment to working people, means she has already made a tremendous contribution to IFM.

“I look forward to seeing that continue with her appointment as chair,” he said.

Mr Combet earlier this month announced he was vacating the IFM chair following his appointment by Prime Minister Anthony Albanese as full-time chair of the Net Zero Economy Agency.

“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,” said Ms Bowtell, who is the first woman to take on the role.

She said Mr Combet’s leadership of IFM – along with his vision, integrity and sense of purpose – was integral to the organisation’s success over the past decade.

Mr Tanner served as the federal Member for Melbourne from 1993 to 2010 and was Minister for Finance and Deregulation from 2007 to 2010, during which time he had oversight of Australia’s sovereign wealth fund, the Future Fund.

He has extensive experience in corporate governance and advising financial and asset managers, including as a special adviser to global financial advisory firm Lazard Australia for more than 10 years.

Mr Tanner is 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.

Ms Bowtell and Mr Tanner will begin their new roles on July 1.

IFM Investors was established more than 25 years ago with the aim of protecting and growing the long-term retirement savings of working people.

Owned by a group of Australian pension funds, the organisation has $217 billion under management as at March 31, 2023.

As a signatory to The United Nations-supported Principles for Responsible Investment, IFM says it “actively engages on ESG [environmental, social, and governance] issues with the companies in which it invest with the aim of enhancing their net performance while minimising investment risk”.

IFM operates globally from offices in Melbourne, Sydney, London, Berlin, Zurich, Amsterdam, New York, Hong Kong, Seoul and Tokyo.

The New Daily is owned by Industry Super Holdings