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.
Reilly departs SSgA
(Pictured: Bernard Reilly)
Bernard Reilly has left State Street Global Advisors, where he was most recently global head of strategy and an executive vice president, after 24 years with the firm, the last nine of which were internationally focused.
He decided, he said last week, that, with two teenage boys, he wanted to spend most of his time in Australia, having been two weeks on and two weeks off between Boston and Sydney for the past year. He resigned a couple of months ago and finished up last week.
“I’m going to have a long break, which I’ve never done before, and consider my options,” he said. “I like the idea of perhaps taking on some board positions. I’ve had quite a broad experience both managing money and managing businesses so I’d like to think I have quite a bit to contribute.”
After last year’s restructure of SSgA in the Asia Pacific region, which saw Lochiel Crafter take over running the Australasian business, Reilly took on the new global role responsible for working with the executive team on setting the strategic direction for the firm. He was also a member of SSgA’s executive management group and a member of the board of a number of SSgA operating entities in Asia Pacific.
Prior to that, Reilly, who has a CFA designation, was head of Asia Pacific for SSgA, with business responsibility for the Hong Kong, Singapore, Tokyo, and Sydney operations.
