Funds SA CEO to step down

Funds SA, the $40 billion specialist asset manager for the South Australian government has
announced that Jo Townsend will step down as chief executive after eight years in the role.

Throughout her career, Townsend has held senior executive roles at REST, including acting chief operating officer and general manager of investments, NGS Super and the Retirement Benefits Fund of Tasmania.

She is a member of the Financial Services Institute of Australasia and the Fund Executives Association.

Speaking of her departure,  Townsend said the decision to step down as chief executive had not been an easy one to make.
"It has been an absolute privilege to lead this great organisation and work with so many
dedicated people who genuinely enjoy what they do and understand its importance," she said.

"Given all the achievements to date and the strong team that is in place, I feel that the timing is right for both me and Funds SA. I am very much looking forward to a break and time with family after almost 40 years in the workforce."

In making the announcement, Funds SA's chair, Paul Laband said Jo had led the transformation of the fund during some challenging times.

"Jo is highly regarded by the Board and we thank her for her leadership, contribution and dedication over that time.

"During this period, the team has expanded significantly, investment capabilities have been broadened across all asset classes, and Funds SA has repositioned and strengthened its brand.

We are looking to continue the strategic direction that Jo has been instrumental in developing."

Townsend will stay on as chief executive whilst the board looks for a successor.