NEWS

Rest appoints interim co-CIOs

By Muskan Arora

Following the resignation of Andrew Lill, the $86bn Rest has appointed two senior investment leaders to undertake the responsibilities of the ex-CIO on an interim basis.

While the search for a new CIO has started, Simon Esposito, Rest’s Head of Private Markets and Deputy CIO, and Kiran Singh, Rest’s Head of Listed Assets have been appointed as co-CIOs.

They will share the responsibilities of the CIO in addition to their current roles.

Both the investment leaders will begin their role after the departure of Lill in November.


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“As well as their deep knowledge of investing across private and public markets, Simon and Kiran both have an in-depth understanding of Rest’s whole-of-fund investment approach and our member-centric investment portfolios,” said Vicki Doyle, the CEO of the one of Australia's largest profit-to-member superannuation funds.

Esposito joined the fund in 2014 as a senior manager within the direct debt and worked in multiple roles including head of PE and credit investments before being promoted to the role of deputy CIO.

Prior to joining the fund, Esposito has worked at the National Australian Bank for over ten years, and PwC for almost three years.

Singh joined the fund in 2021 as head of listed assets. He was responsible for overseeing Rest’s Listed assets portfolios including Australian & Global equities, Australian & Global bonds, Credit & Cash asset class.

Prior to that, he was a board member at Doncaster Hockey Club for three years, and has also worked with the equities team at Cbus Super Fund for almost six years.

Rest’s core strategy returned 8.67% in fiscal year, which ended June 30 and returned 6.75% and 7.41% for its 10-, and 20-year return.

The system’s balanced pension options returned 7.56% in fiscal year 2024 and 6.27% and 7.11% for the past 10 and 20 years.