Kate Farrar wins FEAL award

The chief executive of Queensland-based superannuation fund Brighter Super has taken out the FEAL Fund Executive of the Year award.

Brighter Super chief executive Kate Farrar has been acclaimed for demonstrating exceptional vision, drive, and courage throughout her tenure as the super fund's leader.

Similarly, she was commended for overseeing the merger of LGIAsuper, the superannuation fund for Queensland local government employees, with Energy Super, the fund for Queensland energy workers and Suncorp Super.

The mergers led to the formation of Brighter Super.

FEAL chair Brian Delaney said Farrar's leadership of Brighter Super was reflected in the outstanding achievements of her team and the fund for the benefit of its members.

"As CEO of Brighter Super, Kate embarked on a strategic plan over several years aimed at expanding the fund and enhancing member services, which led to an increase in both membership and the fund's assets," Delaney said.

"After completing two mergers, including the first acquisition of a retail fund by an industry fund, she has introduced a unique boutique at scale model to achieve organic growth and benefits for Brighter Super members."

Delaney pointed to benefits such as a cut in fees of up to 70 per cent for some members and better investment returns.

Farrah has had plenty of experience in organisational change.

She joined Brighter Super from McKinsey & Company, where she worked as a senior implementation leader.

Before that, she was managing director of QEnergy and held senior positions at Barclays and Suncorp.

Earlier, as operating chief at Ergon Energy, Fararr grew the organic electricity retail business to double earnings over three years before leading the acquisition of PowerDirect and selling the combined business to AGL.

"Her commitment to innovation, high-quality services, and cost reduction has supported a promising future for the fund and tangible benefits for its members," Delaney said.

In accepting her award, Farrar praised her team for their "tireless" work in delivering strong performance, low fees and personal advice and support to help our members retire.

This year, QIC sponsored the award.

QIC chief executive Kylie Rampa congratulated Fararr for winning an accolade for "dedication to providing excellent service to members and contributing to innovation in the super industry more broadly. Her leadership embodies the spirit of the award."

Mark Lyons, chief capability officer at CareSuper, won the Michael Dwyer Leadership Scholarship, and Alana Scheiffers, general counsel at Commonwealth Superannuation Corporation, won the MBS Masters Program Scholarship.