QIC hires new chief executive

Following a four-month search, Kylie Rampa has been appointed to the top job at Queensland government-backed QIC.

Rampa replaces Damien Frawley who has led QIC for over nine years but will retire in April 2022.

QIC chair Ian Martin said the board was confident Rampa's strong experience in managing large and complex businesses coupled with her investment and capital management acumen, will ensure QIC continues to deliver strong performance for its clients.

"Ms. Rampa has more than 25 years' experience in investment management, particularly in real assets investing," he said.

"Her expertise spans private markets, particularly real estate, and private and public capital markets, real estate development, asset management, mergers and acquisitions, business strategy, and operations.

"Ms. Rampa will continue to drive the Board-endorsed strategy across QIC's investment capabilities - with our core objective of being client-led in all that we do.

Rampa joins QIC from Lendlease where she headed up Investments.

Her appointment as QIC chief executive follows the June appointment of Tony Lombardo as chief executive of the property giant.

Before joining Lendlease in 2013, Rampa spent 13 years at Macquarie.

Earlier on, she worked at Gandel Group, AMP, and Schroders.

"QIC has a strong reputation for delivering sustainable risk-adjusted returns for its commercial and government clients supported by a robust culture that fosters transparency, excellence, diversity, and strong governance," she said.

"Together with the QIC Board, the executive team, and all QIC's employees, I am excited to lead an organisation that is focused on delivering strong investment performance for QIC's government, domestic, and global institutional clients in a complex operating landscape."

Frawley will remain as chief executive until Rampa commences in April 2022, ensuring a smooth transition.