QSuper chair to step down at year's end

QSuper chair Karl Morris will step down at the end of the year.

Morris is concluding his second term with the fund. "This is a great Queensland organisation which has been my pleasure to lead," he said in a statement.

The fund grew its funds under administration from $51 billion to more than $90 billion, with membership growing from 530,000 to more than 585,000. The fund also became public offer, previously only available to Queensland public servants.

QSuper CEO, Michael Pennisi, gave credit to Morris' leadership during this period of transformation for the fund and industry: "He has set high standards and continued the strong focus on member outcomes".

Former Sunsuper CEO Don Luke will step into the chairmanship on 1 January. Sunsuper and QSuper are currently having merger discussions.