AustralianSuper makes key executive changes

The country's biggest super fund, AustralianSuper has appointed its first chief officer retirement to reflect the increased focus on the decumulation phase of superannuation.

Shawn Blackmore, who will take the new role, has been group executive member experience since 2013.

Also, group executive membership and brand Rose Kerlin is now the new chief member officer .

In this new role, Kerlin will have end to end accountability for ensuring AustralianSuper members enjoy a seamless journey with the fund, including having access to leading products and services and trustworthy guidance and advice.

AustralianSuper chief executive Paul Schroder said Blackmore and Kerlin's new roles were part of a broader reconsideration of executive accountabilities, designed to ensure the fund is well-positioned for future growth and to deliver on its 2030 Strategy.

With more than 3.5 million Australians expected to retire in the next decade, Schroder said it was critical that super funds were as focused on retirement as they were on the accumulation phase of a member's journey.

"AustralianSuper is committed to being a leader in retirement for members. With over 900,000 members over 50, AustralianSuper members are counting on us to ensure we are there for them before retirement, in the transition to retirement and in retirement," he said.

Blackmore added that after nine years in his current role, he was delighted to be taking on this new and important challenge for AustralianSuper members.

"Retirement isn't simply a product solution," he said. It is about combining product, service and advice into an offering [that is] accessible to all members regardless of their account balance.

'Every member's retirement journey is different, and our role is to ensure that they have the confidence they need to spend the superannuation savings they have worked so hard for throughout their working lives to achieve the kind of retirement they want."

Schroder said over the past 12 months to 30 June 2022 the fund has continued to experience exceptional growth with 635,000 new members and net inflows of more than $25 billion.

A further change is Michele Glover who is now chief colleague officer rather than group executive, people and culture.

The chief executive pointed out that over the coming decade the fund is forecast to grow from its current $263 billion to closer to $1 trillion in member assets under management, so it was important these changes were made in preparation for the challenges and opportunities of the future.

He said the focus of the executive changes was to ensure the fund could deliver simplicity and quality.

"AustralianSuper is committed to generating strong long-term performance for members, and these appointments are an essential part of achieving that goal."