State Super to create four new investment roles

State Super has confirmed to Industry Moves that the $43 billion NSW Government fund, which is part of the TCorp family, is restructuring its senior management team and creating four new investment roles.

As reported by Greg Bright of Investor Strategy News, the new roles are: deputy CIO and general manager, defined contribution (DC) investments; general manager, defined benefits (DB) and liabilities (this role will be responsible for the TCorp relationship - the master investment manager for the DB funds); senior manager, responsible investing; and senior manager, investment risk.

Commenting on the changes, State Super chief executive, John Livanas, said: "The new structure will provide clear accountability and additional oversight of the investment strategies, implementation and performance for each of the highly complex funds, in what is becoming a more challenging investment environment."

Richard Hedley, the current State Super CIO and Charles Wu, the current GM assets and liabilities, are expected to apply for the roles of CIO and deputy CIO and GM DC investment. The role of senior manager, responsible investing is expected to be announced shortly.

Livanas confirmed that by consolidating the responsibility for TCorp within the investments team, the existing role of general manager, vendor management was no longer viable and that Aneesa Samuel would depart State Super at the end of September.

Editor's notes: Richard Hedley has since departed State Super and the role of CIO has been awarded to Gary Gabriel, effective 4 February 2019.
The role of senior manager, responsible investing has been awarded to Alice Martin, effective November 2018
The role of deputy chief investment officer and general manager of defined contribution (DC) investments has been awarded to Charles Wu, effective January 2019.