Future Fund appoints Managing Director
Future Fund board chairman, Peter Costello believes David Neal, the fund's current chief investment officer, is the best qualified person for the managing director's role.
The former Federal Treasurer announced that Neal will takeover from interim managing director, and chief financial officer, Paul Mann, as head of the $100 billion sovereign wealth fund in August following an extensive global search for the ideal candidate.
Costello said the search process confirmed that Neal was the best qualified candiate for the position.
"He has played a pivotal role in establishing the Fund, building its credibility and delivering strong returns for Australia. The Board is confident that he and his team will build on this and strengthen the Fund's reputation as a leading global investment institution," Costello said.
The process to appoint a new chief investment officer will commence immediately.
Recommended for you
Trustee and fund administration platform MSC Group has promoted Shelley Brown as its chief operations officer, having successfully completed the integration of the Certane Corporate Trust business.
Australian Unity’s group managing director and chief executive has announced his plans to retire at the end of the year after two decades leading the company.
TAL has appointed a senior manager for investment strategy and portfolio management who joins from a lead role at AIA.
Global wealth management platform FNZ has appointed a new group head of APAC, while boutique investment manager TWC Invest welcomes a chief technology officer.
