Australian multi-employer pension fund Sunsuper has appointed Ian Patrick as its new CIO, succeeding the retiring David Hartley.
Patrick joins from JANA Investment Advisers, a Sydney-based consultant, where he had been CEO since 2008, and principal since 2002.
Scott Hartley, CEO of Sunsuper, said Patrick was “the perfect fit” as the A$32 billion (US$22.8 billion) pension sought to become “industry-leading in terms of our investment capability”.
“His strong investment and leadership experience will perfectly augment the depth of capability that already exists within Sunsuper’s investment team as we continue to execute our strategy of investing in a broad range of asset classes, dynamic asset allocation, and pursuing innovative investment opportunities,” Hartley added, “all while maintaining a strong emphasis on governance and maximizing members’ returns.”
Prior to joining JANA, Patrick worked at consultancy firms Mercer, Alexander Forbes, and South Africa-based Ginsburg Malan & Carsons.
Former CIO David Hartley announced his retirement from Sunsuper in August, after 10 years in the top job. During his tenure the portfolio grew from A$6 billion to more than A$30 billion.
In addition to the new CIO, Sunsuper has also re-hired Andrew Fisher as a portfolio manager. Fisher spent six months working at the New Zealand Super fund. Prior to his temporary move, he had worked at Sunsuper for five years.