SMSF association pioneer Andrea Slattery will stand down in May 2017 to be replaced by John Maroney.
Ms Slattery has held the role since the Association was established in 2003. During her tenure SMSF’s have grown as a fund class to now account for 29 per cent of all superannuation assets.
Mr Maroney, who is a Fellow of the Actuaries Institute and has a Bachelor of Arts (Actuarial Studies) from Macquarie University, is head of Capital and Solvency at the International Association of Insurance Supervisors (IAIS), based in Basel, Switzerland.
He has served as the Australian Government Actuary, in the private sector (including building his own financial services consultancy), and in industry and professional associations in Australia and overseas.
Mr Maroney also served as executive Director of the Life Investment and Superannuation Association (LISA), the predecessor organisation to the Financial Services Council.
SMSF Association chair, Andrew Gale, said “the Association and its members, SMSF trustees, the self-managed super fund sector and the superannuation industry all owe Andrea a great debt of gratitude for her tireless work over the years.
“She has brought commitment, enthusiasm, experience and knowledge to the task, and can look back with enormous pride on an enviable record in terms of what she has achieved for the SMSF sector. With this legacy, the Board is delighted that Andrea is continuing as a non-executive Director.
Ms Slattery says that working for the Association had been a privilege and an honour. “In 2003, when the Association was established, there were 262,000 funds and funds under management (FUM) were $109 billion. Today, it is the largest superannuation sector in terms of FUM ($636 billion), has about 1.1 million members and boasts more than 581,000 funds.
“The Association has grown in parallel with the SMSF sector, nurturing the emergence of the SMSF specialist to service the 1.1 million members across a wide range of professional services relevant to superannuation,” she said.
Ms Slattery is stepping down to further her professional career as a non-executive Director. She currently has a number of directorships, including one with an ASX-listed company. She will remain a non-executive Director of the Association.