Scott Cameron has been appointed CEO of the new $26 billion superannuation entity to be created by the merger of Equip Super and Catholic Super.
Mr Cameron is currently chief executive with Computershare in Australia and New Zealand and a former partner with EY.
The merger, to be completed in October 2019, will create a $26 billion industry super fund that will be the 10th-largest profit-for-member super fund and will have 150,000 members.
Equip Super chairman Andrew Fairley said Mr Cameron’s expertise in bringing diverse businesses together made him the perfect candidate to lead the funds through a new era of change and growth.
“Mr Cameron has experience of significant acquisitions, growth and expansion. He has led integrated operations and employees across multiple worksites,” Mr Fairley said.
“His experience of digital and advanced technology will also be an invaluable asset to the growth of the new combined fund.”
Catholic Super chairman Danny Casey praised Mr Cameron’s record of blending cultures, integrating organisations and introducing innovative technology.
“Mr Cameron has extensive experience building both business-to-business and business-to-consumer operations, along with a talent for team creation and innovation,” Mr Casey said.
“His proven skills will be essential as we pursue our vision to create Australia’s first profit-for-members house of superannuation brands.”
Mr Cameron said: “This is a time of rapid transformation for the superannuation industry, with aggregation, increased efficiencies and great potential for the application of new technologies.”
“I am looking forward to engaging with the outstanding teams at Equip Super and Catholic Super to grow the business even further.”
Mr Fairley said he had big expectations for the merged entity.
“We had set a goal of growing to $35 billion by 2025, and now as a result [of this joint venture] we are at $26 billion, so we will reach that $35 billion just organically,” Mr Fairley said.
“So we will be setting our sights higher now and will commit as a board to reaching $50 billion by 2025.”
Under the terms of the merger agreement, Mr Fairley will be the initial chair and Mr Casey will take on the role of deputy chair. Despite the funds coming together, both brands will be maintained.
“This joint venture will help contain costs and improve efficiency, bringing real benefits to members,” Mr Fairley said.
“It is positive proof the Extended Public Offer model provides a solution to funds who value their brands and connection to community, while enabling economies of scale.”
The New Daily is owned by Industry Super Holdings