Funds SA appoints CEO

The Adelaide-based fund's operating chief has been appointed to the top job seven months after Jo Townsend signalled her intention to step down from the role.

John Piteo has been with the fund since 1995 and has worked across a range of finance and investment operations-related roles.

Nine years later he became finance chief and in 2016 he took on the role of chief operating officer.

Funds SA said Piteo was the "unanimous choice of the board", with his appointment made by Her Excellency the Governor of South Australia under the Superannuation Funds Management Corporation of South Australia (Funds SA) Act 1995.

"John has strong leadership skills, experience, and expertise in financial management. He is very committed to Funds SA and his organisational knowledge sees him very well placed to continue the strategic direction established over recent years," Funds SA chair Paul Laband said.

As for Townsend, he thanked her for ensuring a seamless handover to her successor.

Piteo said it's an "honour and a privilege" to have been chosen to lead SA Funds.

"The organisation plays a pivotal role in the financial well-being and prosperity of many South Australians, and I am deeply humbled by the responsibility it carries," he said.

"I am thrilled to have the opportunity to lead the exceptional and diverse team at Funds SA as we continue to work hard every day to generate strong investment outcomes for our clients."

Funds SA oversees $40 billion in funds on behalf of the state's public sector super funds and other public authorities.