Australia’s Future Fund Names CIO as New CEO
Richard Brandweiner will take over January 1 as the leader of the country’s $200 billion sovereign fund.
Australia’s Future Fund Tuesday announced the appointment of Richard Brandweiner as CEO of the fund, effective January 1, 2027.
The appointment follows outgoing CEO Raphael Arndt’s decision, announced in August, to return to the private sector after almost 20 years with the Future Fund, including more than six years as chief executive. He was the fund’s CIO for six years prior to taking over the top job.
Brandweiner is the Future Fund’s current CIO
He has spent more than 30 years working across all asset classes in the investment management industry.
Prior to joining the Future Fund, he held positions as chief executive of Pendal Australia (formerly BT), CIO of First State Super (now Aware Super) and group executive at Perpetual Investments.
In recent years, Brandweiner has served on a number of boards and investment committees across listed companies, family offices, government agencies and not-for-profits. He is also a member of the global board of governors of the CFA Institute.
“Richard is an outstanding leader with deep experience in leading investment institutions and a strong understanding of the environment in which long-term investors operate,” Future Fund Board of Guardians chair Greg Combet said in a statement. “His experience and leadership will be important as the Future Fund continues to invest its [total] portfolio of over A$350 billion ($240.51 billion) for the benefit of future generations of Australians.”
The Future Fund Board of Guardians manages more than A$350 billion across seven public asset funds. The Future Fund itself was valued at A$290 billion at June 30. The fund reported a return of 14.8% in the latest fiscal year.
Arndt said he was “delighted” by the appointment of Brandweiner as his successor in the CEO post.
“He is a wonderful leader, and his experience and judgement will position the Future Fund strongly for the years ahead,” Arndt said in a statement.
Before he assumes the new job, Brandweiner will remain in the CIO role.
“I am privileged to have the opportunity to lead the Future Fund,” Brandweiner said in a statement. “The organization has strong foundations and a depth of talent. I look forward to working with the board and the Future Fund team to continue delivering long-term investment returns in a rapidly changing investment environment.”
The recruitment process for a new CIO will commence in due course.
Arndt continues as chief executive until the end of 2026 to support a smooth transition of responsibilities.
The appointment follows a comprehensive search process conducted in accordance with Australian Public Service requirements, Future Fund said.
A version of this article originally appeared in our sister publication, Financial Standard, which, like CIO, is owned by ISS STOXX.