Australian Retirement Trust (ART), the $200 billion superannuation fund formed from the merger of Sunsuper and QSuper, has announced the appointment of Andrew Fraser as Chair of its Board to steward the Fund through its next phase of integration and growth.
Mr Fraser was appointed as an independent Director of Sunsuper in September 2015, and as Sunsuper Chair in February 2018. He has served as a director on the ART Board since February following the merger and brings a wealth of knowledge and experience to the role having served on Boards across a number of sectors over the last decade.
Commenting on his appointment, Mr Fraser said: “It is a great responsibility to Chair the Board of Australian Retirement Trust. I am grateful for the trust and confidence of my fellow Trustee Directors and I very much look forward to continuing to work to grow and guard the retirement savings of the two million Australians who entrust us with their superannuation.”
Mr Fraser replaces Mr Don Luke, who decided to step down from the role of Chair as the end of his term approached.
“Don's contribution to Australian Retirement Trust, and to QSuper and Sunsuper prior to the merger, is peerless. He is an outstanding individual and I’ve been grateful to work with and for him. I know my colleagues wish him all the very best as he moves into the next phase and look forward to celebrating his achievements and service in coming months,” Mr Fraser said.
Mr Luke was previously Chair of QSuper and served as CEO of Sunsuper for more than a decade.
“I'm truly passionate about the superannuation industry, and it has been an honour to serve our members over many years, including at Sunsuper as CEO, at QSuper as Chair and most recently as Chair of Australian Retirement Trust,” said Mr Luke.
“It has been an immense privilege to be able to work with the Board and the whole ART team to improve retirement outcomes for our members. Our members can rest assured they're in very safe and capable hands going forward.”
Australian Retirement Trust CEO, Bernard Reilly, gave credit to Mr Luke's leadership during a period of transformation for both QSuper and Sunsuper and the superannuation sector.
“Don Luke was integral to the successful delivery of the largest and most complex superannuation merger in Australian history to form ART, leaving a lasting legacy for ART's two million members. On behalf of the Board and executive team I thank Don for his unwavering focus and commitment to acting in our members best interests,” Mr Reilly said.
Although stepping down as Chair, Mr Luke will remain an independent director until the end of his term on 30 November 2022. Mr Fraser's appointment is effective from mid-October.