LGIAsuper, the $13 billion Queensland-based fund servicing, primarily, 80,000 local government employees, has confirmed Troy Rieck as its new CIO, starting on September 23.
Rieck, an experienced super investor, spent the last four years as executive officer, investments, at Equipsuper, a $15 billion fund. This required him to commute between his family home in Brisbane and Equip’s Melbourne headquarters. Prior to Equip he held senior investment roles at QIC and Suncorp, both based in Brisbane.
He said in a statement last Friday: “I know LGIAsuper’s members well. My father was a member, my brother is a member and Queensland is my home. I am keen to get back to my roots and explain our investment strategy to members.” Rieck was born in the regional town of Warwick.
While at Equip, he organised to cut investment fees substantially while delivering solid returns for members, LGIAsuper said in its statement. Kate Farrar, LGIA’s chief executive, said Rieck brought a wealth of knowledge and experience to the position. “Mr Rieck is a highly skilled and innovative CIO, with considerable experience running investments for a large super fund,” she said. In his previous role at Equip his key achievements included lowering risk, producing significant cost savings and increasing returns for members.
Farra said: “Regional Queensland is our heartland. It’s also where Troy grew up, so he understands what our members need. He even loves to wear his steel cap boots to remind himself of who we work for.”
Rieck replaces David Todd, who is retiring this year after 15 years at the fund, including as chief executive, as well as CIO, until Farrar’s recruitment last year.