Effective July 1, the Rio Tinto Staff Superannuation Fund will merge with Equip. With a combined membership of more than 75,000 participants, the $14 billion fund will also restructure its management and continue under the Equip name.
On Monday, Equip named the directors of the new Equip board and appointed Nicholas Vamvakas as CEO, both of which are effective July 1. Fairley says Vamvakas’ will enable the company to build off of momentum in its strategy to grow and ensure its success in an evolving digital climate in his new role.
“Nick is supported by a strong team at Equip that has been able to continue to roll out new products, services, and platforms while successfully bringing this merger to fruition,” Equip Chairman Andrew Fairley said in a statement. “Our focus will be to provide personalized services to members, and customized reporting and advice to corporate clients,” he said.
Equip will be moving to the one-third governance model for its member, employer, and independent directors. Below is the chart with the new appointees.
The full release can be viewed via Equip’s website.