Dwyer to chair Bennelong boards

Former First State Super CEO Michael Dwyer has become the chair of the board for two organisation, Bennelong Funds Management Group Pty Ltd and its subsidiary, Bennelong Funds Management Ltd.

Dwyer, who first joined the boards as a non-executive director at the end of 2020, will succeed Stephen Rix who will step down as chair but remain on the boards as a non-executive director.

Bennelong Funds Management chief executive Craig Bingham said Dwyer's industry knowledge would prove valuable as the company continues its growth strategy both domestically and through its overseas arm, BennBridge. "Michael's three decades in the superannuation industry, across a variety of senior roles and responsibilities, enables him to provide valuable insights to our executive team as the industry continues to evolve and mature," he said.

Dwyer was the CEO of First State Super from 2004-2018. During his tenure, the fund grew from 450,000 members to more than 800,000. Funds under management grew tenfold, from $9 billion to more than $90 billion. The growth came by moving the fund to public offer, merging with Health Super, and acquiring StatePlus. He was also the GM of Asset Super, which became CareSuper, and held board roles with ASFA and FEAL as well as the UNHCR.