NewsmakersNovember 8, 2024

Australia's Prime Super Names McQueen as New Investments Head

Formerly head of Media Super prior to and during its merger, Michael McQueen will run investments for the multi-industry superannuation plan.

Reported by Elizabeth Fry

Prime Super, a multi-industry superannuation fund based in Melbourne, Australia, has recruited a former CIO of Media Super to lead the investment team.

Michael McQueen joins the $A7 billion ($4.62 billion) industry fund as general manager of investments, replacing Jane Kang, who left in February 2023. McQueen will oversee investment management and operations across all investment options.

Prime Super Pty. Ltd. specializes in the recruitment, health care and care for the elderly, and education industries. Prime Super CEO Raelene Seales—who joined in May from the Zurich Insurance Group—welcomed McQueen to the fund.

“We are excited to have Michael in the team,” Seales said. “We look forward to benefitting from his extensive experience as we move towards our next growth phase.”

McQueen is joining from Foresters Financial, where he served as CIO for more than a year before stepping down in September. Before that, he had a long career in superannuation, most recently at Media Super, which served employees in print, media, entertainment, arts and creative industries. As investment chief at the superannuation fund, he was involved in its merger with Cbus Super in April 2022 and in overseeing the transfer of members’ retirement savings.

Before that, McQueen held several senior positions, including head of investment strategy at LUCRF Super—now part of AustralianSuper—and acting investment chief at Kinetic Super during its merger with Sunsuper, which later merged with QSuper to create Australian Retirement Trust.

McQueen began his career in financial services as an equities dealer and analyst, working for several companies, including Goldman Sachs, JBWere, ANZ Trustees and Myer Family Investments.

“I am looking forward to working with the team at Prime Super to implement our strategic goals and strengthen the investment portfolio for the benefit of our members,” McQueen said.

This article appeared in our sister publication, Financial Standard, which, like CIO, is owned by ISS STOXX.