State Super appoints new CIO

State Super has confirmed to Industry Moves the internal appointment of Richard Hedley as the fund's new chief investment officer (CIO).

Hedley has over 20 years' experience in investment management, including 13 years with Deutsche Asset Management, specialising in infrastructure and private equity investments. Most recently, he was State Super's head of unlisted assets and alternatives, having joined the fund in August 2015.

Hedley's appointment comes as part of a restructure of State Super's executive team following the merger of the investment platforms of the SAS Trustee Corporation (STC - the trustee of State Super), the old NSW WorkCover (now called iCare), and NSW Treasury Corporation (T-Corp), under the T-Corp banner.

Commenting on Hedley's new appointment, as well the appointments of several new members of the executive team, State Super CEO John Livanas said: "I have every confidence that this team is the right team to move the organisation to its new phase, setting investment strategy and risk, and managing relationships with members."

He added: "The new organisational structure is fit for purpose for STC in a new world where we will be benefiting from increasing our outsourcing with world class partners, leveraging on their experience. Our skills will increasingly be in setting strategy, coordinating resources and effort and overseeing outcomes for Members and Investments."

Hedley replaces long-serving CIO Lisbeth Rasmussen.