The CIO of Australia’s Cbus superannuation fund, Brett Chatfield, will leave the AUD 100 billion ($64 billion) fund to take on an opportunity outside of industry superannuation, as his replacement is named.
Chatfield will exit the fund he’s been with for more than a decade to commence as chief investment officer of a large family office, after completing a transition to incoming CIO Leigh Gavin.
Chatfield was a CIO 2018 NextGen and 40 under Forty Honoree.
Cbus chief executive Kristian Fok thanked Chatfield for his many years of service in delivering strong returns for members.
“Brett has spent the last few years bolstering the investment senior leadership team, hiring exceptional investment professionals with whole-of-fund experience – like his successor Leigh Gavin. Cbus has always had a strong focus on succession planning and having a strong depth of leaders,” Fok said.
“Brett’s commitment to members and his determination to deliver them the best investment returns, and retirement outcomes, is unquestionable. He has lived and breathed Cbus for over 12 years and members are undoubtably much better off because of it.”
Gavin has been deputy CIO since February, havingreplaced Alexandra Campbell. He joined the fund as head of portfolio strategies in October 2023.
Prior to that he was head of investment model design at AustralianSuper and had been CIO for LUCRF Super.
Fok congratulated Gavin on his appointment to the role, saying the fund aims to grow from AUD 100 billion to AUD 150 billion in the coming years. Fok added the fund is looking to directly manage half of members’ assets through its in-house investment team.
“Leigh has a proven track record as an investment leader, delivering strong returns for members, shaping strategies, portfolios and teams,” Fok said.
Fok said Cbus is preparing to deploy more than AUD 20 billion in members’ savings over the next five years, with at least AUD 5 billion into private markets and AUD 10 billion in domestic investment.
Gavin will oversee the launch of Cbus’ active large-cap Core Australian equities strategy and continue to grow the fund’s internal global markets strategies.
“It’s a tremendous honor to be appointed as the chief investment officer for the hard-working Cbus members and to lead an expert investment team of more than 100 people who are all committed to generating the best net returns to members we possibly can,” Gavin said in a statement. “I am passionate about making a contribution for our members, it is energizing knowing every extra basis point our teams can earn goes directly to these hard-working Australians.”
Gavin said the investment team will be looking for new opportunities in infrastructure – with a focus on data centers – diverse opportunities in property and the energy transition.
“Cbus is a fund with a well-earned reputation for strong long-term returns that also makes a difference for members and the wider economy through our expertise in the built environment and job creation for members,” Gavin said. “It is a privilege to lead the investment team in the next phase of its growth, to implement new strategies and build on the strong platform developed by Brett and Kristian.”
Gavin was selected for the role following an evaluation of the external market led by Fok with input from Cbus chair Wayne Swan and chair of the board’s investment committee Stephen Dunne.
This comes after a few changes to the investment team over the last two and a half years, including the appointments ofJustin Pascoe as head of portfolio construction, who has worked at AustralianSuper, Goldman Sachs, State Street, and spent eight years as the chief investment officer at VFMC; andJordan Kraiten who was promotedto head of private markets and infrastructure in 2024 and previously spent over 12 years at Hostplus.
This article originally appeared in our sister publication, Financial Standard, which, like CIO, is owned by ISS STOXX.
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Tags: Alexandra Campbell, Australiansuper, Brett Chatfield, Cbus, Hostplus, Jordan Kraiten, Justin Pascoe, Kristian Fok, Leigh Gavin, LUCRF Super, Stephen Dunne, VFMC
