Equip adds Independent Director to board following merger

Equip has announced its merger with the Rio Tinto Staff Superannuation Fund, to form a $14 billion fund under the Equip name. As part of the merger, Equip's board has undergone a restructure with the appointment of three additional directors that will bring the board to the one third/one third/one third governance model.

Wayne Walker joins the board as an independent director, effective 1 July 2017. He was a former partner at Deloitte and remains as a superannuation consultant for the firm. During his time as partner at Deloitte, he was appointed by the Cooper Review to investigate superannuation costs and his advice was deemed so central to the review that it was published in full as part of the final Cooper Report.

Prior to this, he led Mercer's Australian superannuation business for over 10 years, including the establishment of the Mercer master trust. Previously, he was the chair of the Institute of Actuaries superannuation committee, which involved review of legislation, development of professional standards, and preparation of institute submissions to Government.

Also joining Walker on the Equip board is independent director, Justine Hickey and employer director, Mark Cerche.

A spokesperson for Equip said: "Wayne brings deep technical knowledge and practical experience of superannuation, based on a long and distinguished career consulting to superannuation funds. He has conducted extensive research into, and assessment of, industry participants including asset consultants, insurers, and administration houses."