AustralianSuper names new chief executive

AustralianSuper has appointed Paul Schroder as its new chief executive. He will replace Ian Silk, who is stepping down later this year after more than 15 years atop the nation's largest industry fund.

AustralianSuper chair Don Russell said Schroder was selected after a review of external candidates, deciding that Schroder was the best person to lead the fund.

Schroder has been with AustralianSuper for more than a decade in several senior executive roles including group executive for strategy, brand and reputation, and group executive for membership. He was most recently the fund's chief risk officer. He also led the fund's response to the Hayne Banking Royal Commission.

"Paul has played a key role across the Fund over the past decade in providing low-cost insurance to members, building the Fund's brand and most recently embedding a leading risk culture at AustralianSuper," said Silk of his replacement. "He is exceptionally well-placed to lead the Fund in its next phase as it moves towards being a profit-for-members $500 billion superannuation fund in the next five years, that uses the scale of the organisation to benefit members."

Schroder will spend the next few months working with Silk on a leadership transition. He said being selected to lead the fund is a great honour. "Serving members and helping build their retirement balances is central to our purpose and ingrained in our culture," he said. I look forward to working with my colleagues and key stakeholders to continue to deliver on that vision."