IFM adds board member

IFM Investors has appointed former Schroders executive Chris Durack to the board.

Durack was co-chief executive of the asset manager's Asia Pacific operation for three years to 2021, responsible around $200 billion of funds held on behalf of institutional clients.

Durack joined Schroders Australia from the asset manager's Hong Kong operation.

Earlier, he was chief executive of State Super NSW, head of intermediary relationships at Challenger, and chief executive of Perpetual.

He has also worked as an asset consultant for Towers Perrin and Mercer.

Durack has been an investment board member of the Financial Services Council in Australia and executive committee member and pension committee chair of the Hong Kong Investment Funds Association.

"Mr Durack's extensive experience as an asset manager, as well as an investor, alongside his global expertise makes him a great addition to the IFM board," said IFM Investors chair Greg Combet.

"I'm confident his appointment will help us continue to deliver on our purpose, which is to protect and grow the retirement savings of working people."

Durack called IFM "a great Australian success story" and said he looked forward to working closely with the other directors to support IFM in delivering for investors and as it continues its ambitious plans for global growth.

Owned by a group of Australian pension funds, IFM has $179 billion under management as of 30 September 2021.