Cbus appoints internally for newly-created investment role

Cbus, the $43 billion industry fund for the construction, building and allied industries, has announced the promotion of Joe Youssef to the newly-created senior leadership role of chief operating officer - investments, effective March 2018.

Youssef has worked at Cbus for the last four years as general manager, investment operations and his recent promotion follows a restructure of the investment team after the departure of group executive, investment services & solutions, Trish Donohue, who left the fund in December 2017 after almost 18 years.

Prior to joining Cbus, Youssef held roles with NAB, Chimaera Capital and Legg Mason.

Commenting on Youssef's promotion, CIO, Kristian Fok, said the fund was "delighted to promote Mr Youssef into the role given his outstanding leadership and relationship management skills and proven track record in investment operations."

"A significant focus of our new investment model is the internalisation of a number of direct investment strategies and driving down investment costs to maximise the retirement outcomes of our 750,000 members."

Youssef added: "I'm appreciative of this great opportunity to lead our experienced team in tackling the challenges we face with the ambitious programme of work the Investments team has committed to."