Industry funds Tasplan and Quadrant Super have formalised their merger following an announcement of intentions to join the two funds earlier this year.
The two funds will operate under the Tasplan brand from November 2015, bringing together over $3 billion in FUM, approximately 110,000 members, and servicing more than 15,000 employers.
Chair of the new entity Taslpan's Naomi Edwards, believes the merger follows a larger trend of consolidation in the super industry.
"The Australian super industry is growing, and with that growth comes change, and rising expectations from the market. Mergers that can bring together like‐minded partners focused on delivering the best outcome for members, will be best placed to use their size and complementary attributes to raise the bar for those members," Edwards said.
Quadrant's current chief executive Wayne Davy will head the newly combined entity.
