A key architect of the compulsory retirement savings system lauds its many achievements, stretching from the national economy to the individual. Where it’s double faulting is in serving members – and it needs to be addressed promptly.
With performance and diversification driving demand, these funds are expected to experience four-fold global growth over the next decade to nearly $AU65 trillion.
First State team’s expansion rolls on
(Pictured: Ross Barry)
Ross Barry, currently a contracted consultant at Towers Watson and previously its head of alternative investments, will leave the consulting firm around Christmas to join one of its major clients, First State Super, in the new year.
First State Super’s CIO, Richard Brandweiner, has been expanding his internal investment team since joining the fund from Perpetual Investments this year. He has hired, in the past couple of months: Michael Blayney and Damien Webb from Perpetual and Justin Howell, another former Perpetual manager who recently completed a short stint at Tria Investment Partners.
Barry, one of the most experienced alternatives researchers at any of the major consulting firms, will head up First State’s research efforts. He recently moved from a full-time role at Towers Watson to a part-time contracting position. Towers Watson shares the consulting role at First State (known as FSS Trustee Corporation) with JANA. Brandweiner joined First State in April, also from Perpetual, where he was group executive of income and multi-sector products.
Martin Drew, a former CIO of the related State Super (STC) fund, is currently a consultant to First State heading up listed and unlisted infrastructure research.
