Australian Retirement Trust Appoints New Chair

By Nick Hedley

Australian Retirement Trust (ART), the AU$200 billion (US$130 billion) superannuation fund formed from the merger of Sunsuper and QSuper, has appointed Andrew Fraser as its next chair, effective mid-October.

Fraser was appointed chair of Sunsuper in February 2018, and has been an ART director since the merger earlier this year.

“I very much look forward to continuing to work to grow and guard the retirement savings of the 2 million Australians who entrust us with their superannuation,” Fraser said in a statement.

He replaces Don Luke, who will step down from the role at the end of his term. Luke was previously chair of QSuper and served as CEO of Sunsuper for more than a decade.

“Don's contribution to Australian Retirement Trust, and to QSuper and Sunsuper prior to the merger, is peerless,” Fraser said.

ART CEO Bernard Reilly said Luke was “integral to the successful delivery of the largest and most complex superannuation merger in Australian history.”

Luke will remain an independent director until the end of his term on November 30. Fraser's appointment is effective from mid-October.