New chief executive for retail super fund
A retail superannuation fund and platform provider has named its new chief executive as the incumbent retires after 12 years.
Acclaim Wealth, formerly AMG Super, promoted Terry Constable as the new chief effective October 1.
Constable joined the organisation in May 2013 as a senior business development manager before becoming the distribution lead. Before that, he was a financial planner at Aware Investment Management Group.
He takes over from Alan Hegerty who, before joining Acclaim Wealth, worked at BMO Global Asset Management, Equity Trustees, and Suncorp.
In 2014, Hegerty oversaw the rebranding of AMG Universal Super to AMG Super. AMG Universal Super was launched in 2000 as a joint initiative between DDH Graham and Pension Investments.
AMG Super's MySuper was one of many super products that underperformed for two years in a row in APRA's test, which prevents failed products from taking on new members.
On 30 September 2022, AMG Super rebranded to Acclaim Wealth, in line with expanding its platform capabilities and products.
"I am extremely proud of what we have achieved. We have launched our new market-leading products and are close to completing our transformative system upgrade project, which positions Acclaim perfectly for the next phase of our growth. Terry is the right person to navigate the business through this next stage," Hegerty said.
Chair Ugo Di Girolamo said over the last 10 years, Constable has "played a big part in helping grow the business to where it is today, showing a strong commitment to providing the best possible service which plays an important part in helping Acclaim to continue the growth in its business".
Commenting on Hegerty's departure, Di Girolamo said: "I'd like to thank Alan for all his hard work and commitment to the business and wish him well in his endeavours."
"Alan leaves Acclaim in great shape and we are well-positioned to continue our growth and success, having benefited from Alan's significant contributions scaling the business over the past 12 years," he said.
Constable said driving the distribution function for over 10 years has allowed him to form some "extremely strong relationships with our adviser network and business partners".
"It is these relationships and insights that will continue to shape my decisions moving forward," he said.
Hegerty added: "After 12 years with the business, it is time to start a new chapter and move onto the next challenge. "
