Australian Retirement Trust boss stands down

Australian Retirement Trust chief executive Bernard Reilly will depart the $260 billion superannuation fund next February, two years after finalising  the biggest merger in Australia's superannuation history.

It is understood that having completed the merger between Sunsuper and QSuper, Reilly is looking for a fresh challenge.

ART - whose seven-year strategy sees assets jump to $500 billion  - has appointed recruitment house Egon Zehnder to hunt for a replacement.

Chair Andrew Fraser thanked Reilly for his leadership and acknowledged the organisational culture he will leave behind.

"Bern will leave an incredible legacy, having played an integral role in delivering Australia's largest superannuation merger to create Australian Retirement Trust back in February 2022," he said.

"Bern has expertly guided Australian Retirement Trust to deliver merger benefits to our more than 2.3 million members and grow funds under administration to more than $260 billion."

The outgoing chief executive said he will forever be honoured to have been ART's inaugural head.

"This has been an enormous decision for my family and me, but I know I am stepping away at the right time for Australian Retirement Trust.

Interestingly, last month, Reilly won the FEAL Fund Executive of the Year award.

He was recognised for his role in merging Sunsuper and QSuper, which led to the formation of ART.

At the time, FEAL chair Brian Delaney said: "Bernard's leadership has taken two already strong funds that were locally focussed through a complex and high-stakes merger process to create a fund that now ranks as one of the largest pension funds."

Similarly, ART chair Andrew Fraser commended Reilly for overseeing what he termed "a high stakes" merger upon assuming the role of chief executive at Sunsuper.