General manager chosen for Future Fund

Mark Burgess was named general manager of Australia’s A$71.8 billion ($72.5 billion) Future Fund, Melbourne, confirmed spokesman Will Hetherton.

He replaces Paul Costello, who stepped down Nov. 30. Chief Investment Officer David Neal has served as acting general manager since Mr. Costello's departure.

Mr. Burgess is CEO of Treasury Group, a Sydney-based money management holding company. He will stay with Treasury Group through June 24 while the firm searches for a replacement, according to a company statement.

Korn/Ferry International assisted.