Qantas Super COO moves to Grow, company looks to divest super offering
After more than 10 years with Qantas Super, Peter Savage has moved into the CEO position for Grow Super's administration business, which Grow looks to make it it's primary business.
In an interview with Financial Standard, co-founder and Grow Super CEO Josh Wilson said the company was looking for a buyer for its $39 million superannuation assets.
"We are having a couple of active discussions with other superannuation funds and expect to finalise the divestment by early 2020 through a successor fund transfer," said Wilson.
The company is moving to make the administration platform it announced in July their primary business. The platform will provide outsourced solutions for superannuation funds including APRA reporting, taxation, financial accounting and member/employer servicing.
Wilson says the sky's the limit for the type of administration that Grow could handle."We are talking to a number of clients, both industry and retail funds."
Savage has been hired as the head of the new administration servicing business.
"He has a really unique and powerful blend of skills and experience", said Wilson of Savage. "He has worked on the custody side but also knows the operational requirements and expectations of a trustee from an [administration] service".