QIC appoints chair

The $106 billion Queensland Investment Corporation has appointed the chair of PayPal and MetLife Insurance to lead the board.

With over forty years' experience in financial services and capital markets, Geoff Brunsdon succeeds Ian Martin, who will retire in April after five years.

Brunsdon - who joined the QIC board last year - also serves as the chair of Sims Metals.

He was previously head of investment banking at Merrill Lynch Australia, a member of the Australian Stock Exchange's listing committee and the Takeovers Panel.

He is a fellow of FINSIA, the Institute of Company Directors and the Institute of Chartered Accountants in Australia.

Brunsdon is also a patron of Redkite, which supports families who have children with cancer and director of the Wentworth Group of Concerned Scientists.

Further, he was made a Member of the Order of Australia in January 2019 for significant service to the finance, banking and insurance sectors and to charitable organisations.

QIC chief executive Kylie Rampa said Brunsdon is an experienced leader who has spent most of his forty-year career working with global organisations.

"His global mindset and broad thinking will prove invaluable to our organisation as we further our own globalisation and client diversification strategies, and continue to create shared value for our clients, people and communities," she said.

Rampa thanked Martin for his contribution.

In response, Martin said it had been a privilege to chair QIC over the past five years.

"I'm proud of the way the organisation has expanded and further developed its capabilities, and I am confident of QIC's prospects for the future," he said.

"I'm also proud of the very successful chief executive transition from Damien Frawley to Kylie Rampa."