The CIO of Australia’s First State Super is to leave the
pension after three years of leading its investment operations.
Richard Brandweiner—named on CIO’s Power
100 list last year—is to join impacting investment firm LeapFrog Investments at the end of this year, First State Super said in a statement.
First State Super has appointed Damian Graham as acting CIO
while it seeks a permanent replacement, effective August 22. Graham was
previously CIO at public sector financial advisor StatePlus, which was recently
purchased by First State Super.
Brandweiner will continue to work at the A$71 billion (US$54 billion) pension as
executive investment consultant until he leaves in December, the pension said.
CEO Michael Dwyer indicated that First State Super would likely continue to work closely
with Brandweiner in his new position.
“First State Super has been a leading advocate for the
superannuation industry to play a greater role in developing high quality
investments that deliver both financial and social outcomes,” Dwyer said. “We
are keen to work with Richard and the team at LeapFrog to develop investment
vehicles that will deliver on this objective on a global scale while generating
strong investment returns for our members.”
First State Super Chairman Neil Cochrane praised Brandweiner’s
“outstanding leadership.” The departing CIO “has an enduring commitment to
impact investing,” Cochrane added. “Together with the board and our First State
Super leadership team, I wish him every continued success in this mission.”
Related: The Power 100 2015