Prime Super names chief executive

Prime Super has recruited Raelene Seales as its new chief executive, replacing Lachlan Baird, who departed the fund last November after nearly two decades at the helm.

Since Baird's departure, chief operating officer Remo Memmolo stepped in as interim chief executive until the superannuation fund identified a successor.

Seales joins the $7 billion super fund from Zurich Insurance, where her recent roles have spanned operations, distribution, acquisitions and strategy.

Most recently, she served as chief of business transformation.

Before that, she was head of advice delivery at ANZ for almost four years, leading the dealership services team.

She also worked at National Australia Bank for nearly eight years, most recently as general manager for advice services for MLC aligned and NAB financial planning distribution teams.

Commenting on the appointment, Prime Super chair Nigel Alexander said Seales demonstrated leadership, strategic vision, and customer-first values align perfectly with the goals of Prime Super.

"The board looks forward to working with Raelene as we continue to grow and protect the hard-earned retirement savings of our 140,000 members."

Data from Rainmaker shows Prime Super's default investment product posted an annual return of 6.9 per cent over ten years, compared to the median 7.1 per cent return for MySuper options.