CIO to Take On Interim CEO Role at Australia’s Cbus

CEO Justin Arter is stepping down as chief executive of the $48.8 billion industry fund in May.



Cbus, the Australian industry superannuation plan, this week said CEO Justin Arter is retiring from the fund following mergers with Media Super and EISS Super, with the fund now switching its attention to organic growth and member retention.

Upon Arter’s departure, CIO Kristian Fok will become interim chief executive of the $48.8 billion (A$73 billion) fund.

Fok, in 2018 was a CIO Next Gen honoree.

Arter joined the fund in July 2020, bringing experience in leadership roles with BlackRock and Victorian Funds Management Corp.

I’m enormously proud of the strides the fund has taken during my tenure and in recent years Cbus has grown strongly, Arter said. The successful mergers we have overseen have strengthened the fund’s capacity to invest on behalf of our members and to deliver other important scale benefits for members.

Cbus chair Wayne Swan thanked Arter for his tenure.

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Cbus, under Justin’s leadership, has adroitly navigated two significant mergers, successfully expanding Cbus’ funds under management, membership and industry footprint, Swan said. Thanks to these successes, we are well placed to continue our journey of growth, with a renewed focus on retaining members and attracting new ones.

This article first appeared in CIO’s Australian sister publication, Financial Standard, which, like CIO, is owned by Institutional Shareholder Services Inc.

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