StatePlus managing director, Michael Monaghan, has confirmed his exit from the company following its acquisition by First State Super.
Monaghan said he had left following completion of the transaction after five years in his role as managing director.
“StatePlus was a unique business to run and I was given a free hand by the Board and STC [SAS Trustee Corporation] to completely transform it and ready it for a digital future,” he said.
“Now it is time for me to take a break and enjoy some travel, before writing the next chapter. This will most likely involve exploring additional opportunities as a non-executive director.”
First State Super raised eyebrows in May when it agreed to pay more than $900 million for the StatePlus business, effectively outbidding a number of trade buyers.
