Hostplus names new chair

Damien Frawley has been appointed as the independent chair of Hostplus, the $89 billion superannuation fund und that serves employees in hospitality tourism, and recreation.

The former QIC chief replaces David Elmslie who joined the Hostplus Board as an Independent chair in 2007 having reached the end of his term at the end of June.

He has over 35 years' experience in the financial services sector domestically and internationally. He has a strong focus on developing and executing strategy, particularly around growth, through strong partnerships and stakeholder management.

Frawley was the chief executive of the Queensland Investment Corporation for the ten years to 2022

Before that, he was country head of BlackRock Australia, where he was oversaw the management of $45 billion of assets on behalf of clients.

Earlier, Frawley served as BlackRock's head of account management, overseeing sales, marketing and product efforts across institutional and retail channels.

His career has also included roles at Merrill Lynch Investment Management, Barclays Global Investors and Citibank.

Before working in financial services, he represented Australia in rugby union from 1986 to 1988.

Hostplus chief executive David Elia also welcomed the appointment and thanked Elmslie for his "exemplary leadership" over the last 15 years.

"I am delighted to welcome Damien to Hostplus. His rich experience will be a huge asset as we continue to focus on making a genuine difference to the financial futures of our members," he said.

I'd also like to pay tribute to the outgoing chairman David Elmslie who has made an enormous contribution to Hostplus.

Throughout his time, he has diligently and faithfully served the Hostplus board, the fund, and the interests of all contributing employers and members. To have had David advocating for both our members and our employers and leading our Fund from strength to strength for so many years has been truly invaluable."

For his part, Frawley called the appointment a great honour.

"Hostplus is responsible for the retirement savings of more than 1.5 million members that brings enormous responsibility," he added.

"I am committed to ensuring that Hostplus' focus on delivering superior member outcomes in their best financial interest, which has underpinned the fund's 35 year history, continues to guide the board's actions and decisions."